California home sales rise on lower-priced markets

Oct 20, 2015 5:28 PM by News Staff

SAN DIEGO (AP) - A research firm says California home sales surged in September as buyers snapped up properties in more affordable cities away from the coast. Prices cooled.

CoreLogic said Tuesday that the median sales price for new and existing single-family homes and condominiums was $406,000. That's down less than 1 percent from $408,500 in August but up 6 percent from $385,000 in September 2014.

Nearly 41,000 homes sold throughout the state, a 13 percent increase from a year earlier.

The numbers suggest that a modest slowdown in sales during August was temporary.

Sales gains and price increases were sharpest in areas like Southern California's Inland Empire and Contra Costa County near San Francisco, which are more affordable than coastal markets.

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