No surprises here!
... Fed's increase short term interest rates for the first time in four years by 1/4% - a move that is expected to continue into 2005.
And, California home prices continue to soar!
The California Association of Realtors® (CAR) reports that "The median price of an existing home in California in May increased 26.5 percent and sales increased 10.5 percent compared to the same period a year ago."
The median price increase is the greatest percentage increase on record. The median home price set a new high at $465,160. This represents "a 26.5 percent increase over the revised $367,630 median for May 2003" per CAR.
To read the entire press release, go here.