Valley News -

Home-buying capacity slips in Riverside County

 

Last updated 11/12/2017 at Noon



RIVERSIDE – The number of Riverside County households who are able to afford a median-priced home fell in the third quarter of this year, in line with a statewide trend, a real estate tracking firm reported.

Roughly 38 percent of the county’s residents could qualify to buy a single-family dwelling between July 1 and Sept. 30, down from 39 percent in the prior quarter, according to the California Association of Realtors.

CAR’s Housing Affordability Index also showed a year-over-year drop, with the number of qualifying homebuyers at 42 percent in the third quarter of 2016.

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