KTVN Channel 2 - Reno Tahoe News Weather, Video - Firm: Calif median home price rises in month
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Associated Press - April 15, 2010 3:44 PM ET
LOS ANGELES (AP) - The median home price in California increased about 14 percent last month from March 2009, marking its fifth consecutive month of year-to-year increases.
San Diego-based MDA DataQuick said in a report Thursday that the increase was due to a dip in sales in lower-cost inland communities and an increase in transactions within more expensive coastal markets.
The firm says the median for the state increased to $255,000 from $223,000 in March 2009. Last month's median was up about 2 percent from $249,000 in February.
DataQuick also says nearly 37,300 homes were sold in the state in March, up nearly 33 percent from February and up 3 percent from about 36,200 in March 2009.
Foreclosures accounted for nearly 41 percent of all sales.
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