Home Prices break $800000 for first time ever!

Home Prices break $800000 for first time ever!

According to the California Association of Realtors (C.A.R.) California median home prices broke $800,000 for the first time ever in April!

C.A.R. reports:

  1. existing single family home sales totaled 458,170 in April on a seasonally adjusted annualized rate up 2.6% from March and up 65.1 from April 2020
  2. April’s statewide median home price was $813,980 up 7.2% from March and up 34.2% from April 2020.
  3. year-to date statewide home sales were up 26.2% in April (statistics provided by C.A.R. website)

Dave Walsh, President of C.A.R. states, “California continues to experience one of the hottest housing markets as homes sell as the fastest pace ever, with the share of homes sold above asking price, the price per square foot and the sales-to-list price all at record highs, while active listings remain at historic lows. The high demand and shortage of home for sale, driven by these market factors, continues to drive up home prices and shatter the record high set just last month.”

See also  Economic Update as 3/2/2019