(PRVEGAS) June 16, 2005 -- Data released today showed, Southern California home prices rocketed to new highs again last month, but the rate of appreciation appeared to have flattened out. The median price paid for a Southern California home rose 15.2% on a year-over-year basis to $456,000 in May, setting a record. yet, the pace of the increase was on par with the rate of change in April, when the median rose 15% to $445,000
The San Diego Association of Realtors says the median price of a home in San Diego County rose more than 2 percent during May to $512,500. That is a five-percent increase from May 2004.
That's the upshot of the latest quarterly data compiled on 265 major real estate markets by the Office of Federal Housing Enterprise Oversight, which tracks home-pricing changes nationwide. From the first quarter of 2004 through the same period this year, the average home in the United States appreciated by a near-record 12.5 percent. Some local markets were as hot or hotter in the 12-month survey period than at any time in decades.
Nevada housing gained an extraordinary 31.2 percent on average during the 12 months, according to OFHEO.
The internet is a wonderful resource of information when buying a first home or an investment property. Search the web for a real estate agent that is also a member of their Board of Realtors using a directory such as http://www.Realtorsontheweb.com
listing agents by city and state and linking directly to their web sites.
The REALTOR® trademark assures that you are getting more than a real estate licensee - you are getting a member of the NATIONAL ASSOCIATION OF REALTORS® who subscribes to a strict Code of Ethics. REALTOR® is a registered trademark that identifies a member of the NATIONAL ASSOCIATION OF REALTORS®.
REALTORSONTHEWEB.COM is an independent directory and not affiliated nor a member of the NATIONAL ASSOCIATION OF REALTORS®