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California Home Prices Keeps Climbing

Last month, the median price of a home reached a record $282,000 in California. Some 50,400 homes and condominiums were sold statewide, up about 18 percent from the same period a

year ago.

A real estate tracking firm called DataQuick Information Systems says December´s sales was the strongest in the 14 years it has kept records. In some areas, home prices stayed relatively stable over the past two months. In the Bay Area, the median price last month was $416,000. In Southern California, the median price was a record $289,000. Analysts say low mortgage rates and the uncertainty of other investments is driving the housing market.