August 24, 2012: California home sale prices came close to a 4-year high in July, with the pace of sales year-over-year growing for the fourth month in a row, the CALIFORNIA ASSOCIATION OF REALTORS® reported.
The median home price in July for an existing single-family home was $333,860 last month, up 4.2 percent from $320,540 in June and nearly 13 percent from a year ago, when the median home price in California was $296,160.
July’s median home price was the highest since August 2008, when it was $352,730. July also marked the fifth consecutive month that the median price increased month-over-month and year-over-year.
Sales in July rose to an annualized pace of 529,230 homes, an increase of 15.3 percent compared with last July.