California News

Feb 14, 2013 4:11 PM by The Associated Press

California home prices, sales up in January

SAN DIEGO (AP) - The number of homes sold in California rose 2.7 percent last month from a year earlier and the median price soared as the housing market showed continuing signs of recovery.

The research firm DataQuick says around 29,000 homes were sold statewide - still well below the January average despite the year-over-year improvement.

The median price paid was $290,000 - up nearly 23 percent from January 2012. January also marked the 11th consecutive month in which the median sales price rose year-over-year.

Foreclosed homes accounted for fewer than a fifth of home sales - down from more than a third a year earlier.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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