Improvement in home prices, interest rates lifts California housing affordability during first-quarter 2024, C.A.R. reports

Seventeen percent of California households could afford to purchase the $814,280 median-priced home in the first quarter of 2024, up from 15 percent in fourth-quarter 2023 and down from 20 percent in first-quarter 2023. A minimum annual income of $208,400 was needed to make monthly…