4/26/2006

California Median Home Price: $561,350

This represents an increase of 13 percent over the March 2005 revised median price of $496,000m and an increase of four percent from last month's revised median price. Prices in a particular area may not exactly match, but this is an indicator of statewide activity. The interest rates have also increased since March of last year: 6.32 percent frfom 5.93 percent for a 30-year fixed mortgage rate. What has dropped is the level of sales compared to the last two years. The winter months are typically slower, and March is the time when activity starts picking up, however March resales were 15 percent lower than March 2005. Click on the link for the whole article.

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