California's Housing Affordability Index Fell Three Points in July

Another story from the California Association of Realtors Newsletter:

"The percentage of households in California able to afford a median-priced home stood at 16 percent in July, a 3 percentage-point decrease compared with the same period a year ago when the Index was at 19 percent, according to a recent C.A.R. report. The July Housing Affordability Index (HAI) was unchanged from June, when it also stood at 16 percent."