Tuesday, January 03, 2006

CAR predicts 2005 a record year for California home sales

The California Association of Realtors® (CAR) reports that "2005 will be a record year for home prices. The median price of a single-family home in California crossed the $500,000 threshold for the first time in April 2005. The annual median is expected to reach $523,150 in 2005 and increase 10 percent to $573,500 in 2006."

Further, "The median price of a single-family home increased by double-digits for the fourth consecutive year in 2005, though the pace of price appreciation slowed from the 18 to 21 percent annual gains of the previous three years to 16 percent in 2005."

To read more: 2005 California home sales

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