California Real Estate Home Prices

In a report just out from the California Association of Realtors, California home sales data shows that both the California median home price and California existing home sales both gained ground last month. The report showed that single-family detached home sales were up 8% compared to California home sales in October 2015.

Also,and mama this report showed that the California median home price was above the $500,000 level for the seventh straight month in a row! The median home price of California existing single-family detached homes was up 1.2% in October 2016. Typically, since 2010, California home prices have declined from September to October. So, this monthly home price gain for October 2016 is a good sign that the demand for single-family detached homes in California remains unseasonably strong!

Also, the California pending home sales Index rose 5.3% in September 2016. Now, on an annual basis, the California pending home sales index was up 10.5% from September 2015! This marks the six consecutive year-to-year increase for this index!

National Association of Realtors