Despite a slight drop in the median...

Despite a slight drop in the median price of a California home, generally higher mortgage interest rates prevented any improvement in the state’s Housing Affordability Index in November, according to the California Assn. of Realtors. Thirty-one percent of California households could afford to buy the median-priced, existing single-family home in November. That figure has remained unchanged since August. The statewide index stood at 32% in November, 1986. As measured by the association’s index, almost half of all households nationwide can afford to buy the median-priced home. The statewide median price of a home dropped by $1,743 in November to $143,043.