SAN DIEGO (AP) — A research firm says California home sales surged last month on a strong economy and low interest rates as prices reached fresh 7-year highs.
CoreLogic Inc. said Friday that the median sales for new and existing houses and condominiums hit $417,000 in June, up 3 percent from May and up 7 percent from the same period last year. It’s the state’s highest median price since October 2007.
Sales rose from a year earlier for the fourth straight month to more than 46,000 homes despite unusually tight supplies.
The San Francisco Bay area notched its highest sales tally since August 2006, while the median sales price neared its peak during last decade’s boom. The median price in the city of San Francisco topped $1.1 million.
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