California Median Home Price Passed $400,000 Last Month
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California’s median home price surpassed $400,000 for the first time in five years as rising demand and a tight supply of properties for sale drove up values, the state’s Realtors association said today.
The median price for an existing, single-family detached home climbed to $402,760 last month, up from $378,960 in March and the first time since April 2008 that the $400,000 mark was exceeded, the Los Angeles-based group said in a statement.