Affordability slipping here in Sonoma County.

 

Some interesting charts from our California Assoc. of Realtor housing report. Note the “net cash” is up and the highest it’s been since 2007. Nice recovery here. The other 2 charts show how many years folks are holding onto their homes before selling.  10 years is the highest in many a year. Why? Pehaps recovering from the great recession or the baby-boomers have quit BOOMING! Lastly housing affordability “peaked” in 2012 as the hangover from the great “Recession” flooded the market with cheap bank owned homes or REO’s and Short-Sales. Netcashwhensellinghighestsince2007 Yearsownedbeforeselling
Housingaffordabilitycalifvsnation

Income to Purchase a Home–Tale of two Cities: SF vs Sacto

  On Sundays show we discussed how much home YOUR median income will purchase. Below you see 3 charts. The first one shows how many of you making the median income for your county can afford the “Median” home price. I’ve underlined “Sonoma County”.

housing affordabilityby county

 

 

 

 

Below is the income needed to buy the median income home in Sacramento. Then below that the same chart but in SF. The difference is staggering! Why Buy a home in Sacramento? How about it takes 4 times as LESS as in SF!

IncomerequiredtobuySF

Why Buy a home in Sacramento? How about it takes 4 times as LESS as in SF!