FRESNO COUNTY Housing Affordability. MEDIAN PRICE OF EXISTING DETACHED HOMES Fresno County, January 2015: $211,470, Up 14.9% YTY SERIES: Median Price.

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Presentation transcript:

FRESNO COUNTY Housing Affordability

MEDIAN PRICE OF EXISTING DETACHED HOMES Fresno County, January 2015: $211,470, Up 14.9% YTY SERIES: Median Price of Existing Single Family Homes SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

HOUSING AFFORDABILITY IN CA: BY COUNTY SERIES: Housing Affordability Index SOURCE: CALIFORNIA ASSOCIATION OF REALTORS® HAI % able to purchase median priced home 2014 Q4

HOUSING AFFORDABILITY Central Valley – 4 th Quarter 2014 SERIES: Housing Affordability Index SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

HOUSING AFFORDABILITY INDEX Fresno County, 4 th Quarter 2014: 53% % OF HOUSEHOLDS THAT CAN BUY SERIES: Housing Affordability Index of Traditional Buyers SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

MONTHLY MORTGAGE PAYMENT, (PEAK VS. CURRENT) SERIES: Housing Affordability Index SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

MEDIAN MONTHLY MORTGAGE PAYMENT FRESNO What Will Happen When Mortgage Rates Increase? Q Median Price $201,840 20% Downpayment INTEREST RATE MONTHLY MORTGAGE SERIES: Housing Affordability Index SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

INCOME REQUIRED TO BUY A MEDIAN-PRICED HOME, (PEAK VS. CURRENT) SERIES: Housing Affordability Index SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

MINIMUM QUALIFYING INCOME FRESNO What Will Happen When Mortgage Rates Increase? Q Median Price $201,840 20% Downpayment INTEREST RATE Minimum Qualifying Income SERIES: Housing Affordability Index SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

HOUSING AFFORDABILITY INDEX, (PEAK VS. CURRENT) SERIES: Housing Affordability Index SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

MINIMUM QUALIFYING INCOME FRESNO What Will Happen When Mortgage Rates Increase? Q Median Price $201,840 20% Downpayment INTEREST RATE Minimum Qualifying Income SERIES: Housing Affordability Index SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®