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State Housing Prices Continue To Soar

The state´s housing market is showing no signs of slowing down.

The real estate information service, DataQuick, says sales of new and existing homes and condos dropped slightly in May compared with last year, but the drop was due mainly to a fall in supply, not demand.

A total of 55,200 new and resale homes and condos were sold across the state in May, up 3.4 percent from April, but down 3.6 percent from May 2002.

Last month was the strongest sales month since May of 2002.

The median price paid for a home in California broke the $300,000 mark in May, reaching $301,000. That price was up 13.6 percent from $265,000 in May last year and up 1.7 percent from last month.