The Party Ain't Over Yet - CA median home tops $500k
The party ain't over yet - CA median home tops $500k | 2005-05-27 10:19:49 | Calif.: Median Home Price Tops $500,000
(May 26, 2005) -- The median resale home price in California hit $509,230 in April, up 12.5 percent from the same month of last yearmarking the first time that the median price has topped $500,000, according to the CALIFORNIA ASSOCIATION OF REALTORS.
Over the same time span, resales | edged up 3.7 percent to an annual pace of 658,060 units.
"House price appreciation was expected to moderate over coming quarters, but a number of local real estate markets were still regarded as 'hot,' with signs of possible speculative excesses in some areas," the Federal Open Market Committee noted in the minutes from its early May meeting.
Source: Los Angeles Times (05/24/05); Sanchez, Jesus
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