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by CareyBot

The median price of an existing home in California in January increased 20.7 percent and sales increased 5.3 percent compared to the same period a year ago, the California Association of Realtors reported today. The median price of an existing, single-family detached home in California during January was $405,720, up substantially from the revised $336,210 median for January 2003, C.A.R. reported. The January 2004 median price increased 0.5 percent compared to a revised $403,570 median price in December. Closed escrow sales of existing, single-family detached homes in California totaled 615,660 in January at a seasonally adjusted annualized rate, according to information collected by C.A.R. from more than 90 local Realtor associations statewide. Statewide home-resale activity increased...