CAR.org - "C.A.R. reports median price of a home in California at $562,380 in April, up 10.2 percent from year ago; sales decrease 21.4 percent" (5-25-06)

“At 10.2 percent in April, we’re seeing price appreciation trend toward a more sustainable rate for the California housing market,” said C.A.R. Vice President and Chief Economist Leslie Appleton-Young. “Increased inventory levels are moderating the rate of price appreciation, but are still below what we experience in a more traditional market when the long-term supply of unsold inventory is about 7 months.”

Well, if there's a down trend, I think most Californians would like to know and hope it doesn't last too long. Notice C.A.R. is still talking about last years numbers. Only a few more months until that numbers really changes.


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