Housing Affordability Down in December

Housing affordability in California fell to 32% in December, down 4 percentage points from the same period a year ago, according to the California Assn. of Realtors. At 24%, San Diego was the least affordable county in the region, a drop of 7 percentage points from last year. Only 28% of Orange County’s residents could afford a median-priced home in December, down 5 percentage points from a year ago. In Ventura County, the affordability index fell to 33% from 37%, while Los Angeles County dropped to 36%, down from 40%. San Francisco remained the least affordable county in the state, with only 10% of its residents able to afford a median-priced home. At the other end of the spectrum, Riverside and San Bernardino counties dropped to 48% from 52%.