California Median Home Prices for July 2006

THE MEDIAN PRICE of an existing single-family detached home in California during June 2006 was $575,800, a 6.2 percent increase over the revised $542,330 median for June 2005, C.A.R. (California Association of Realtors) reported. The June 2006 median price increased 2 percent compared with May’s revised $564,440 median price.
NATIONAL RATE: Thirty-year fixed mortgage interest rates averaged 6.68 percent during June 2006, compared with 5.58 percent in June 2005, according to Freddie Mac. Adjustable mortgage interest rates averaged 5.71 percent in June 2006 compared with 4.24 percent in June 2005. The median number of days it took to sell a single-family home was 46 days in June 2006, compared with 28 days (revised) for the same period a year ago. Buying or Selling? Patience! www.PTRE.net. Pat Townsley, Broker. 415-485-1776