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Old 01-11-2006, 09:23 AM
elva
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Post Despite interest rate increases, many communities experienced decreased home prices

Despite recent interest rate increases, many communities experienced decreased home prices during the month of November, according to a recent press release from the Humboldt Association of Realtors.

Affordability indexes did not change much in Humboldt County though. The median home price sold in November was $319,450, dropping from October prices of $331,055. An average mortgage rate of 6.26 percent kept the affordability index at 12 percent.

The most drastic changes happened in Fortuna during the month of November allowing for a new affordability index of 26 percent for the city. The median home price was $222,000 dropping from $291,000 the previous month. Home prices during November were the lowest that they had been in 19 months.

Eureka home prices had the only increases with median home prices at $308,000 over October's median price of $295,000. Housing affordability rates in Eureka between October and November dropped from 15 percent to 12 percent of the population able to afford a home.

Read more:
http://www.times-standard.com/local/ci_3391673
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