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by CareyBot

The median price of an existing home in California in November increased 23.1 percent from a year ago and sales increased 4 percent during the same period to a record high, the California Association of Realtors reported today. "Sales hit an all-time high in November as consumers snapped up single-family homes at a record pace," said C.A.R. President Jim Hamilton. "The median price of a home in California continued its upward march, increasing by double-digits for the 36th month in a row to $473,260." Closed escrow sales of existing, single-family detached homes in California totaled 652,340 in November 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 4 pe...