State Finance Agency Raises Price Limits
The California Housing Finance Agency has increased price limits for its programs in 31 of California’s 58 counties, making homeownership possible for more first-time home buyers.
“California has one of the lowest [housing] affordability rates in the nation. The price limit changes won’t solve the housing crisis, but they will help to make homeownership a reality for more Californians,” said agency Executive Director Theresa Parker.
Orange, San Luis Obispo, Santa Cruz, San Joaquin, Sacramento, Placer and Sonoma counties are among those that will see new construction increases ranging from 10% to 20%. But price limits in 20 other counties will remain the same as they were in 2001.
The agency’s price limits for resale homes range from a low of $95,741 in Tulare County to a high of $558,721 in San Francisco and Marin counties. Price limits are based on annual surveys of housing sales in each statistical area to determine an average.
Get the L.A. Times Politics newsletter
Deeply reported insights into legislation, politics and policy from Sacramento, Washington and beyond. In your inbox three times per week.
You may occasionally receive promotional content from the Los Angeles Times.
