Home affordability in California helad steady in the fourth quarter of 2009 at 64 percent, according to a report by the California Association of Realtors.
This means that 64 percent of California households could afford to buy an entry-level home, the same percentage as in the third quarter of 2009, and above the revised 61 percent figure for the fourth quarter of 2008.
The median price for an entry-level home in the state was $257,940; the estimated monthly payment, including taxes and insurance was $1470; and the minimum household income needed to purchases a home at that payment was $44,100, the report said.