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California Real Estate Market Showing Cool Down

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Nov 18, 2005 12:04 am US/Pacific

California Real Estate Market Showing Cool Down

LOS ANGELES (AP) ― A real estate analyst says the California housing market "is definitely showing signs of cooling down, but it's still healthy."

The statewide rate of housing growth price narrowed last month to the lowest level in two years. That's according to the real estate information service DataQuick.

The median price of a California home jumped 14.9% to $454,000 dollars -- the lowest annual rate of home appreciation since June 2003 when it was more than 23%.

October's median price was down .2% from $455,000 in September.

Home sales dipped slightly in last month. A total of 53,700 new and resale houses and condos were sold statewide, down 1.9%% from October 2004 and 9.9% from September.

(© 2005 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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