The median home price in California is on the rise. The California Association of Realtors said the median single-family home price last month was nearly $601,000. That's up almost three-percent from April and a new high for the first time in more than ten years.
The sale of condos and townhomes rose more than eight-percent in May as compared to the previous month with prices around $474,400. Homes sales, however, were on the decline. Existing, single-family home sales totaled more than $409,000, which was down about two-percent from April.
The San Francisco-Bay area and the Central Valley region recorded solid month-to-month gains while home prices in southern California were more tepid, but still showed a steady upward trend.
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