Californian Housing Inventory Down, Median Home Prices Up

The California real estate market is finally turning around.  The  C.A.R. (California Association of Realtors) reports  after months of price reductions, median home prices have overall increased in California.  The housing inventory is down and homes are selling in months and  sometimes in as little as a few weeks.

According to C.A.R., the median home price for a single-family home in March 2012 was $291,080, an almost 2 percent increase compared to March 2011 and a 9.2 percent increase compared to February’s median price of $266,660.  The current low interest rates, make it a very desirable time to purchase a home however, due to the low inventory of homes currently on the market prices will be slightly higher until the inventory builds up again.  To read C.A.R.’s full story, click here.