California housing market report for August is in!
Recently we reported on the national housing market for August home sales. Now the California Association of REALTORS® (C.A.R.) reports that "The median price of an existing home in California in August increased 16.8 percent and sales declined 8.5 percent compared to the same period a year ago."
As far as the actual numbers are concerned, C.A.R. states "The median price of an existing, single-family detached home in California during August 2004 was $474,370, a 16.8 percent increase over the revised $406,140 median for August 2003, C.A.R. reported. The August 2004 median price increased 2.6 percent compared with a revised $462,140 median price in July."
Wow! What prices! People who are moving into the state are still suffering from "sticker shock", wondering if it can possibly continue. People moving out of state are wondering if they will be able to afford to return.
To read the article by the C.A.R., please go here.