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by CareyBot

Last year marked a continuation of the record-breaking performance of the California housing market that began in the late 1990s, according to the California Association of Realtors "2004 – 2005 State of the Housing Market" report, released today. Home sales and the median home price reached record high levels in 2004, while supply conditions and the share of first-time buyers in the California housing market fell to historic lows. The record-setting performance in 2004 eclipsed that of the previous year for the third year in a row; with the exception of a slight pause in 2001, the state's housing market has made significant advances every year since 1995. "The market performed in a somewhat paradoxical manner in 2004," said C.A.R. President Jim Hamilton. "Home sales and prices co...