California Home Prices Rise for First Time in 16 Months
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California home prices rose 1.6 percent in March, the first year-over-year increase in 16 months, helped by demand for houses in the San Francisco area, the California Association of Realtors said today.
The statewide median price for an existing single-family detached home jumped to $291,080, the Los Angeles-based group said today in a statement. That was a 9.2 percent gain from February, the largest monthly increase since March 2004.