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Thursday, Jul 18, 2024
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Home Affordability Stays Low

Only 11% of Orange County households could afford a median priced home here in November, the same as in October and down 13% from a year ago, the California Association of Realtors reported Thursday.

The median price for an OC home, excluding condominiums, was $695,500 in November, a 1% dip from October and up 10% from a year earlier, according to the association.

Statewide, the percentage of households able to afford a median priced home stood at 14% in November, compared with 19% for the same period a year ago.

The High Desert region is the most affordable in the state, with 24% of households able to buy a median priced home. But even there things have gotten pricey: The November figure is down from the 40% rate seen in the High Desert a year earlier.

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Mark Mueller
Mark Mueller
Mark is the Editor-in-Chief of the Orange County Business Journal, one of the premier regional business newspapers in the country. He’s the fifth person to hold the editor’s position in the paper’s long history. He oversees a staff of about 15 people. The OCBJ is considered a must-read for area business executives. The print edition of the paper is the primary source of local news for most of the Business Journal’s subscribers, which includes most of OC’s major corporate and community players. Mark’s been with the paper since 2005, and long served as the real estate reporter for the paper, breaking hundreds of commercial and residential real estate stories. He took on the editor’s position in 2018.
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