SJ Mercury News: California housing prices hit new records in January
Last months housing numbers are out; looks like
housing prices are still rising.
In the San Francisco Bay area, the median price paid for a home in January was $443,000, up 9.7 percent from last year and down 3.3 percent from December.
Year over year price increases have been running around 10 percent since October, DataQuick reported.
So prices were down from the prior month, but that likely reflects a seasonal affect. The rate of increase has been down to 10% from the 15% of previous years for the last three months. I'd be curious to know how much of that 10% accrued in the early months of the preceeding year.
The article also points out that mortgage interest rates have actually decreased in the last couple months. So, that is still providing fuel to the housing increases.
Posted by dapkus at February 24, 2004 07:31 AM
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