Wednesday, June 30, 2004

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.

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