California Home Prices Hit Five-Year High, Sales Increase as well

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(LA Times) –

California home prices climbed to a five-year high last month and sales increased as well, placing increased momentum behind the state’s housing recovery.

The median sales price for a home rose 25.9% from last year to hit $340,000 in May, real estate firm DataQuick said Thursday. Sales of new and existing homes jumped 1.2% to 42,293, the most for a May since 2006 when 54,099 homes sold.

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