California median home price sets new record as home sales dial back
- Existing, single-family home sales totaled 409,270 in May on a seasonally adjusted annualized rate, down 1.8 percent from April and down 4.6 percent from May 2017.
- May’s statewide median home price was $600,860, up 2.8 percent from April and 9.2 percent from May 2017, hitting a new high for the first time in more than 10 years.
- As sales declined from a year ago, the unsold inventory index on a year-over-year basis as well. The statewide unsold inventory index edged up to 3.0 months in May from 2.9 months in May 2017. Read the full story