California Prices Soar 8.3% in One Month

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Posted To: MND NewsWire

The median price of a home in California shot up in March to $313,000 from 289,000 in February, a one-month increase of 8.3 percent . The spike put the median price 24.7 percent above the price in March 2012, the 13 th consecutive annual price increase. California prices peaked at a median of $484,000 in the late spring/early summer of 2007 and hit a low of $221,000 in April 2009. Sales of new and existing single-family houses and condos increased 31.5 percent from February; 37,764 transactions as compared to 28,719. DataQuick, which supplied today's data, said it is normal for sales to shoot up between February and March and it appears the March 2013 figures are not extraordinary. March sales in California have ranged from a low of 24, 565 in 2008 to 68,848 in 2005 and have averaged 43,648...(read more)

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Source: http://www.mortgagenewsdaily.com/04192013_california_home_sales.asp

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