City Council examined yearly performance of Sacramento's main affordable housing programs, while planners take up a revised plan for the Deer Creek Plaza site. A routine ethics-code update for the city's housing agency also moved forward.
The headline price fell 9% year-over-year, yet price per square foot climbed nearly 9%, pointing to a shift in what's actually selling.
Sacramento's median sale price fell 2.1% year-over-year while the per-square-foot price dropped just 1.8%, suggesting a shift toward smaller homes rather than broad price weakness.
A jump in 30-year rates pushed the monthly payment on a median-priced Santa Barbara home to 106% of local median household income.
With a median sale price near $684,000, Newcastle buyers are absorbing a $125-a-month hit from the latest rate move — well above typical regional pain.
With a median sale price near $700,000, the latest move in 30-year rates adds roughly $127 a month to a typical Winters mortgage payment.
The City Council signed contracts with five local hotels to house homeless families, authorized tax-exempt bonds for a new apartment project, and accepted its annual report on the city's 20-year growth plan.
A jump in 30-year rates pushes the monthly payment on a median Davis home to 51.7% of local household income, well past the 43% line.
A 0.35-point jump in 30-year rates lands on a market where median prices have climbed more than 12% in a year, stretching monthly budgets further.
Woodland's median monthly mortgage payment is now $43 higher than a year ago, even though home prices have dropped 5.5% over the same stretch.