According to the California Association of Realtors, higher home prices counterbalanced historically low interest rates in the state during the fourth quarter of 2012. Homes in San Francisco proved to be less affordable during this time than in quarters past.
Other counties that saw a decrease in affordability included Solano, Riverside, San Bernardino, Monterey, Santa Barbara, Madera, Sacramento and Tulare. Affordability improved in the previous quarter in Alameda, Contra Costa, Marin, Napa, Los Angeles, Ventura, San Luis Obispo, Santa Cruz, Fresno and Kings counties.
Our fair county of San Francisco is actually the least affordable in the state, with just 22 percent of the region’s households able to buy a median-priced home. If this sounds daunting, it may well be – if you’re dealing with the market on your own or with the wrong agent.
If you’re feeling frustrated with market conditions, I encourage you to contact me. I can help you get a piece of paradise – without incurring painful costs.
Dreaming of San Francisco? Cece Blase offers local advice to San Francisco buyers, sellers and owners-- and feeds the dreams of those who wish they could live in Tony Bennett's 'City by the Bay.' Call 415-577-0809 or email cblase@paragon-re.com. www.ceceblase.com
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