California home prices hit new 7-year high, sales rebound

Apr 17, 2015 4:39 PM by News Staff

SAN DIEGO (AP) - A research firm reports that California home prices reached fresh seven-year-highs last month, while sales rebounded from a two-month slide.

CoreLogic said Friday that the median sales price for single-family houses and condominiums was $397,000 in March, up 5 percent from $378,000 in February and up 6 percent from $376,000 in March 2014. It marks the 37th straight month of annual gains, though price increases have moderated since last year.

There were more than 35,300 homes sold in March, up 38 percent from the previous month and up 7 percent gain from the same period of 2014. Sales typically increase from February to March but the jump was higher than some expected and followed two straight months of declines from year-ago levels.

Copyright 2015 The Associated Press. All rights reserved.


Most Popular