SAN DIEGO COUNTY Housing Affordability. MEDIAN PRICE OF EXISTING DETACHED HOMES San Diego County, Jan. 2015: $496,380, Up 3.6% YTY SERIES: Median Price.

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Presentation transcript:

SAN DIEGO COUNTY Housing Affordability

MEDIAN PRICE OF EXISTING DETACHED HOMES San Diego County, Jan. 2015: $496,380, Up 3.6% 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 Southern California – 4 th Quarter 2014 SERIES: Housing Affordability Index SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

HOUSING AFFORDABILITY INDEX San Diego County 4 th Quarter 2014: 27% % OF HOUSEHOLDS THAT CAN BUY SERIES: Housing Affordability Index of Traditional Buyers SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

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

MEDIAN MONTHLY MORTGAGE PAYMENT SAN DIEGO What Will Happen When Mortgage Rates Increase? Q Median Price $493,110 20% Downpayment INTEREST RATE MONTHLY MORTGAGE SERIES: Housing Affordability Index SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

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

MINIMUM QUALIFYING INCOME SAN DIEGO What Will Happen When Mortgage Rates Increase? Q Median Price $493,110 20% Downpayment INTEREST RATE Minimum Qualifying Income SERIES: Housing Affordability Index SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

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

HOUSING AFFORDABILITY INDEX SAN DIEGO What Will Happen When Mortgage Rates Increase? Q Median Price $493,110 20% Downpayment INTEREST RATE % OF HOUSEHOLDS THAT CAN BUY, ALL ELSE CONSTANT SERIES: Housing Affordability Index SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®