Q3 2024 California Housing Affordability

California's housing market affordability dropped in Q3 2024. The median home price surged by 4.3% year-over-year, reaching $880,250. Consequently, the minimum income required to afford a median-priced home skyrocketed to $220,800. This dramatic increase means only 16% of California households can now afford to purchase a median-priced home, highlighting the growing housing affordability crisis in the state. Here at Aquila Real Estate Inc., we plan to help you sell your home. Call us for a Comparative Market Analysis today. 877-522-7361.