The median price of an existing home in California in June jumped 25.3 percent and sales increased 10.8 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 June 2004 was $469,170, a 25.3 percent increase over the revised $374,540 median for June 2003, C.A.R. reported. The June 2004 median price increased 1.2 percent compared to a revised $463,690 median price in May. Closed escrow sales of existing, single-family detached homes in California totaled 633,670 in June 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 10.8 percen...
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