California´s surging real estate market has hit another record high.
The real estate information firm DataQuick says the statewide median price paid for homes and condominiums last month was $407,000. That´s up more than 21 percent from $336,000 the same month a year ago and up 1.8 percent from January.
Real estate analysts say the state´s housing market continues to run hot due to low mortgage interest rates and persistent demand for housing.
DataQuick says California home prices have appreciated by more than 20 percent on average ten of the past 12 months.