State´s Housing Prices Hit Record
The median price of California houses and condos surged to a new record last month, hitting $296,000.
An analyst says low mortgage rates continued to spur demand. According to the real estate information service DataQuick, the figure represents a 2.1% uptick over March and a 13.8% increase over April 2002.
Statewide, 53,400 new and resale homes, including houses and condos, were sold in April. That´s up 10.7% from the previous month but down 1.4% from April 2002.
The bulk of sales occurred in Southern California.
Napa County saw the biggest jump in median price last month to $426,000. That´s nearly 30% higher than the $333,000 recorded in April 2002.