The latest report by Robert A. Kleinhenz, Ph.D., Deputy Chief Economist on C.A.R's Economics & Market Trends web site stated that California Median Price Up for Second Month in Row.
Median Price Up for Second Month in Row
The median price of a home in California rose two consecutive months for the first time in nearly two years, beckoning calls for a bottom in home prices. The statewide median price of an existing detached home rose from $253,040 in March to $256,700 in April. The 1.4 percent monthly gain was the second in a row after a 2.2 percent gain in March. Despite month-to-month gains, the median price continued its string of year-to-year decreases, declining 36.5 percent from the April 2008 median of $404,470.
This is a touch of good news but today, the interest rate just gone up and that is not good for the buyers.
Read the whole report here:
http://www.car.org/economics/trendsarchives/markettrendsmay09/
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