The Daily Transcript reported recently that home sales in California increased in March by 2.5%, a year-over-year increase. Not a bad number considering the unemployment rate in this state is over 12%.
The median price of an existing home increased year-over-year by 20.8%. The President of the CA Association of Realtors, Steve Goddard, said that price gain was the largest in five years.
On the downside, resales actually dipped from February to March 2010 by 2.5%.
Quoted fromt the article, “The median price of an existing single-family detached home in California during March 2010 was $301,790, a 20.8 percent increase from the revised $249,790 median for March 2009…”
As far a resales on a national level, Alan Zibel of the Associated Press reported in late April that resales in the US rose in March after three months of declines. Quoting, “Resales of previously occupied homes rose 6.8 percent to a seasonally adjusted annual rate of 5.35 million last month, the highest level since December…”
Zibel also said that sales were up in every region in the country, 7% in the Midwest and South, 6.6% in the West and 6% in the Northeast. Sales were reported up 18% from their low in 2009 but down 26% from their peak in 2005.
The national median sales price was $170,700, a 4% rise from the previous month, but was almost unchanged from March 2009.