California´s home-buying frenzy accelerated last month – but sale prices backed off from a furious pace.
The statistics from DataQuick Information Systems were released Friday. They show buyers snapped up more houses and condominiums than any other October during the 14 years the firm has tracked the market.
Still, the pace didn´t mean higher prices.
A mid-priced California home sold for $275,000 last month. The number was unchanged from September. Even so, most California homes are worth far more than a year ago. Statewide, Dataquick says mid-priced homes are up by 20-percent from October 2001.
In California´s most expensive market, Marin County, a mid-priced home sold for $578,000 last month, a 26-percent increase from the previous year.