LOS ANGELES—California’s median home price across the state exceeded $900,000 for the second straight month to set another record high, although mortgage rates that surged to their highest levels since late last year hampered home sales last month, the California Association of Realtors (CAR) said in a press release on June 18.
May’s median home price in California was $908,040, up 4.0 percent from April, and up 8.7 percent from $835,280 in May 2023, according to CAR.
May’s sales pace statewide dipped 1.1 percent from the revised 275,540 homes sold in April and were down 6.0 percent from a year ago, when a revised 289,860 homes were sold on an annualized basis. The sales pace remained below the 300,000-threshold for the 20th consecutive month, and year-to-date home sales were flat, according to CAR.
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California Home Prices Hit Another Record High While Mortgage Rates Dampen Sales
- by: City News Service
- 2024-06-19
- Source:
The Epoch Times
- 06/20/2024
The building is very expensive by Marek Studzinski is licensed under Unsplash unsplash.com
The building is very expensive by Marek Studzinski is licensed under Unsplash unsplash.com
