Another record in the California housing market (ho, hum)
The California Association of Realtors (CAR) released data indicating that "The median price of an existing home in California in May increased 12.8 percent and sales decreased 2.1 percent compared with the same period a year ago." The median price for May was $522,590. This is a record high number!
But, sales of resale homes (not new homes) decreased 2.1% this May as compared to May 2004 - from 632,380 to 618,920 (seasonally adjusted annualized rate).
To read more, go here.