Business Journal: Home Prices Keep Rising

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(Sacramento, CA)
Tuesday, August 23, 2005

The median price of an existing house rose to $387,000 in July, a one and a half percent bump from June. That caps a 20% appreciation in the last 12 months. The statewide increase has been 17% over the past year … to a median home price in California of $541,000.

Prices may be rising, but sales are slowing … down 12% from July of last year, and June was also a down month.

West Sacramento has one of the state’s white-hot markets for home sale. The median price for an existing house has soared 49% since June of last year.