Daily Real Estate News | June 26, 2009 | Share
Real Estate Improves in California
Median prices for single-family homes in California have risen for the third straight month, reaching $267,570, up 4 percent from April, according to a report from the California Association of REALTORS®.
The inventory of homes continues to drop, falling a 4.2-month supply in May, compared to 8.7 month supply in May 2008.
California’s real estate market always has been seen as a leading indicator for the rest of the country. What is happening in California bodes well for the rest of the nation, observers say.
Source: The Wall Street Journal, Stu Woo (06/26/2009)
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