California housing market continues recovery as median home price breaks $700,000 mark, C.A.R. reports
LOS ANGELES, Sept. 17, 2020 /PRNewswire/ -- California's housing market continued to improve in August as home sales climbed to their highest level in more than a decade as the median home price broke last month's record and hit another high, the CALIFORNIA ASSOCIATION OF REALTORS(®) (C.A.R.) said today.
Home Prices Rose 11% in August--Biggest Gain in Over 6 Years
SEATTLE, Sept. 17, 2020 /PRNewswire/ -- (NASDAQ: RDFN) -- The national median home price rose 11.0% year over year to $328,400 in August--the largest annual increase since February 2014. As has been the case for most of the summer, low mortgage rates drove homebuyer demand, but the supply of homes for sale has fallen to another new low, according to a new report from Redfin (www.redfin.com), the technology-powered real estate brokerage.