CALIFORNIA FACT SHEET

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C.A.R. REPORTS SALES INCREASED 17.5%; MEDIAN HOME PRICE FELL 37.7% IN JUNE

Home sales increased 17.5 percent in June in California compared with the same period a year ago, while the median price of an existing home fell 37.7 percent, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported Friday.

"Statewide home sales remained above the 400,000 level for the second month in a row, and up nearly 18 percent from a year ago," said C.A.R. President William E. Brown. "Following a 30-month string of year-to-year percentage decreases that began in October 2005, sales last month also posted their third consecutive year-to-year gain."

The median price of an existing, single-family detached home in California during June 2008 was $368,250, a 37.7 percent decrease from the revised $591,280 median for June 2007, C.A.R. reported. The June 2008 median price fell 4.3 percent compared with May's $384,840 median price.

Fast Facts

Calif. median home price - June 08: $368,250 (Source: C.A.R.)
Calif. highest median home price - Santa Barbara So. Coast $1,035,000 (Source: C.A.R.)
Calif. lowest median home price - High Desert $180,570 (Source: C.A.R.)
Calif. First-time Buyer Affordability Index - First Quarter 08: 44 percent (Source: C.A.R.)

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