In Brief : House Prices Decline in California
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The median resale price of a house in California declined 2.9% to $172,405 in December, the first time housing prices have retreated in more than a year, a real estate group said. In Los Angeles, the median price was off 1.2% to $189,545.
Despite the month-to-month decline, the median house price was 18.7% higher than the December, 1987, median of $145,224, the California Assn. of Realtors said. In Los Angeles, house prices increased 23.6% increase over December, 1987.
Statewide sales continued strong in December, up 6.1% from November and up 19% from December, 1987, the association said.
The median price of a condominium in California rose 1.3% from November to December, to $127,929 from $126,328, the association said. That was a 13.1% increase from December, 1987.
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