Topic: Real Estate, Mortgage, California
Industries: Real Estate
Tags: Real Estate, Mortgage, California, Home Prices in California, Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange county
Date: April 17, 2012
California median home prices posted their first year-over-year increase in 16 months, although home sales last month dipped from their February pace.
The statewide median price of an existing, single-family detached home rose 9.2% to $291,080 in March from February’s $266,660. It increased a more modest 1.6% from a revised $286,550 in March 2011.
Despite positive home price data, the housing recovery remains tepid.
Closed sales of existing, single-family homes totaled a seasonally adjusted annualized rate of 505,360 units in March, down 4.5% month-over-month and down 2.3% from the year-ago period.