November Home Sales and Prices for Bay Area
MDA DataQuick has released its November housing figures for the Bay Area. Year-over-year, looks like a mixed bag. Click on the chart for a clearer view.
On a related note, California Watch drops some figures into a story you already know: Californians spend a lot more on housing than people in the rest of the country.
Drawing from census data, CW reports that more than half of the state’s residents spend over 30% of their income on rent and utilities.
The 30 percent threshold for housing costs has long been a conventional marker of affordability. The estimates, released Tuesday, show that housing costs exceed 30 percent for 36.7 percent of mortgaged owners and 46.2 percent of renters nationwide.
Housing costs in California are among the highest in the country. California homeowners spend an average $2,292 per month, compared to $1,486 nationally. Renters in the state pay an average $1,116 toward housing, compared to $817 nationally.