Housing Affordability Increases in California

FRESNO, Calif. (KMJ) — Lower interest rates and more stable home prices led to improved housing affordability in the final quarter of 2015.

The California Realtors Association says the percentage of buyers who could afford to purchase a median-priced, existing single-family home rose to 30 percent.

Here in the Central Valley, home affordability is even better.

49 percent of Fresno residents can afford a median-priced home, which would be around $220,000.

Figures are similar in Madera, Merced, Tulare, and Kings counties.