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California Housing Affordability Tracker (3rd Quarter 2024) October 23, 2024
Our post provides an updated snapshot of housing affordability in California. Over the last few years, we have seen a rapid increase in California housing costs, led by the dramatic increase in the costs of purchasing a home. While recent interest rate declines have led to a slight moderation in costs, they remain high relative to pre-pandemic levels. Monthly costs for a newly purchased home are about $2,400 higher than they were just a few years ago. Annual income needed to qualify for a typical home is about $221,000—over 2 times higher than median household income (about $96,500).
California's Cooling Housing Market August 30, 2022
California's housing market boomed during much of the pandemic, but it started to cool this spring. Over the last few months, sales prices and sales activity have declined notably.
Home Price Update: October 2021 November 18, 2021
California home price growth slowed sharply in October, but is still up 21 percent over the past 12 months.
Home Prices Update: September 2021 October 20, 2021
Californa home prices grew by 1.37 percent in September, the lowest figure since March but still high by historical standards.
Home Prices Update: August 2021 September 23, 2021
California home prices are up 21.7 percent over 12 months, although the rate of growth slowed in August.
Home Prices Update: July 2021 August 25, 2021
California home prices continued to soar in July and are now up 21.2 percent over the past 12 months.
Home Prices Update: June 2021 July 28, 2021
The California home price surge continues to accelerate: up 2.8 percent in June and 18.7 percent over 12 months.
Net Taxpayer Outmigration Increased During 2017-2019 July 6, 2021
New IRS data show that the state had higher net losses of income tax filers during 2017-2019 than the prior five years.
Home Prices Update: May 2021 June 24, 2021
The home price surge heated up even further in May. California home prices are up 15.4 percent since last May, national prices 13.2 percent.
Home Prices Update: April 2021 May 20, 2021
California home prices continue to soar, and are now up 12.5 percent over the past 12 months.
Home Prices Update: March 2021 April 28, 2021
California home prices continue to surge, and are now up more than 11 percent over the past 12 months.
Home Prices Update: February 2021 April 5, 2021
California home prices keep rising, and are now up nearly 11 percent over the past 12 months.
Home Prices Update: January 2021 February 23, 2021
California home prices continue to soar, and are now more than 10 percent above the level of 12 months ago.
Home Prices Update: December 2020 February 1, 2021
California home price growth continues to outpace national growth, and is now up nearly 10 percent over the past 12 months.
Home Prices Update: November 2020 December 22, 2020
California home prices continue to surge, and are now up an average of 9% over last November.