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Inland Empire Housing Market Stays Strong
Inland Empire Housing Market Stays Strong

Housing Affordability Improves

Forty eight percent of Inland Empire households could afford the median price of a single-family home in the region – $297,850 – during the first quarter of this year, according to data released Tuesday.

That was a three percent improvement compared with the fourth quarter of 2015 but was essentially unchanged year-over-year, the California Association of Realtors stated in its latest report on housing affordability in California.

Thirty four percent of California households could afford the statewide median price – $465,280 – during the first three months of 2016. That was a 30 percent jump from the fourth quarter of last year but, like the Inland Empire, unchanged compared with the first quarter or 2015, the association reported.

A potential homebuyer needed a minimum annual income of $92,571 to purchase a home priced at the statewide median during the first quarter of this year, according to the report.

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