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Home Sales Up Statewide

Analysts say the sale of homes in California saw a significant increase in March, but at the same time, home appreciation rates are down.

Experts say the average appreciation rate in the southern part of the state fell below 20% for the first time in more than a year. Researchers say the statewide median price for homes and condominiums last month was $421,000, that´s up 3.4% from February and up almost 20% from a year ago.

The average home mortgage payment last month was just over $1900, that´s up from $1824 in February. The average rate for a 30-year fixed rate loan was right around 6%.