REAL ESTATE TOPICS...Four out of five most expensive US metros are in California

Four out of five most expensive US metros are in California 
The latest quarterly report from the National Association of Realtors shows that four of the five most expensive metros in the country are in California. Stronger demand and lagging inventory helped push prices higher in many areas with 51 metros showing double-digit rises. Year-over-year the median price of a single-family home increased in 85 per cent of the markets measured by NAR although 25 areas recorded lower prices. Sales were down 1.8 per cent from the last quarter of 2014 but were 6.8 per cent higher than a year earlier.

California’s nation-leading markets for high prices are; San Jose, where the median existing single-family price was $900,000; San Francisco, $748,300; Anaheim-Santa Ana, Calif., $685,700; and San Diego, $510,300. Honolulu is the only out-of-state metro in the top 5 with a median of $699,300 while the national median is $205,200.

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