Median Home Prices Rising In California

The median home price in California is on the rise.  The California Association of Realtors said the median single-family home price last month was nearly $601,000.  That's up almost three-percent from April and a new high for the first time in more than ten years.  

The sale of condos and townhomes rose more than eight-percent in May as compared to the previous month with prices around $474,400.  Homes sales, however, were on the decline.  Existing, single-family home sales totaled more than $409,000, which was down about two-percent from April.  

The San Francisco-Bay area and the Central Valley region recorded solid month-to-month gains while home prices in southern California were more tepid, but still showed a steady upward trend.

Photo: Getty Images

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