My New Blog

Home prices edge upward?

Although it’s too early to say the market has bottomed out, there are some indicators that prices may be stabilizing.

MAKING SENSE OF THE STORY FOR CONSUMERS

· The median price for existing, single-family homes rose 2.2 percent in March in California, according to the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.). March marked the first month since August 2007 that the state’s median sales price rose in month-to-month comparisons. According to the C.A.R. sales and price report, the median price of existing, single-family homes stood at $253,040 in March.

• Sales in California have soared in recent months, with existing, single-family home sales increasing 63.8 percent in March to a seasonally adjusted rate of 522,980 on an annualized basis.