A Housing Record: Single-Family Homes Now 827-Thousand Dollars

(Sacramento, CA) — The cost of owning a single-family home in California reached a new record of 827-thousand dollars. The statewide median price in August is the fifth record high in the past six months, according to the Department of Finance. The 827-thousand dollar price is up two percent from July – and it’s a jump of 17 percent compared to a year ago. Conversely, sales for existing single-family homes declined by thirteen percent in August compared to July, with just 414-thousand units sold statewide. California single-family home sales are down nearly 11 percent from a year ago. It’s the second consecutive year-over-year decline for sales volume and the seventh month-over-month decline in the past eight months.