The Median Home Price is $540,900--and Rising?

The California statewide price increased 1.3 percent compared with one year ago, according to C.A.R. Mortgage rates are still low, in fact have declined slightly from recent weeks, and the home inventory is slightly improved compared to 2004, according to this report. See DataQuick's tables listing median home prices in California cities and counties here. Desert areas are now seeing a "catch-up" compared to one year ago: Desert Hot Springs increased 55.5 percent, Twentynine Palms increased 74 percent. Palos Verdes Estates also jumped up 81.5 percent compared to one year ago. The greatest median home price increase was Reedly at 89.4 percent.