6/07/2007

April California Median Home Price Still Up

The trend continues: The California median home price is up by another 6.2% over April, 2006,, to $597,640--the sales volume is down over 27% compared to the same time last year. With more time on the market, buyers can spend a little more time looking and deciding which home they want to buy. In the meantime, loan guidelines have tightened up with most lenders and interest rates are not decreasing.

The statewide median price is not necessarily the local median price in your area, because those are impacted by the local composition of type of housing and other economic activity. But here are CAR's statistics for April on communities with the biggest increases:

"Statewide, the 10 cities and communities with the greatest median home price increases in April 2007 compared with the same period a year ago were: La Habra, 55.1 percent; Laguna Niguel, 26.2 percent; Los Gatos, 20 percent; Los Angeles, 19.8 percent; Moorpark, 18.7 percent; Dana Point, 18.2 percent; San Juan Capistrano, 17.1 percent; Redwood City, 15.3 percent; Ridgecrest, 13.9 percent; Walnut Creek, 13.6 percent."

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