Falling home prices have turned Sacramento into one of California's most affordable regions for homebuyers, two housing industry groups reported Tuesday.
The National Association of Home Builders/Wells Fargo Opportunity Index ranked El Dorado, Placer, Sacramento and Yolo counties first for affordability in California. The report said 55.7 percent of area buyers earning the region's median family income of $49,700 can afford to buy at today's prices.
The California Association of Realtors, likewise, rated Sacramento County first for affordability for first-time buyers. The CAR said 68 percent of first-time buyers earning Sacramento salaries could afford the county's median-priced starter home during the second quarter of 2008.
That was up from 64 percent during the first quarter and 44 percent the same time last year.
– Jim Wasserman
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