State’s Home Sales Rise 17.6% in February

February sales of existing single-family detached homes in California rose 17.6% to a seasonably adjusted annualized rate of 560,700 homes compared with January’s sales, according to the California Assn. of Realtors. Nationally, the February sales pace rose to 4.8 million units, up 6.7% compared with January’s rate of 4.5 million units, according to the National Assn. of Realtors. The median price paid for an existing single-family home in California jumped to $231,710, up 17.1% from $197,870 in the same period a year ago. San Diego County led the region with an 18% increase. Prices in Riverside and San Bernardino counties rose 13%; Orange County, 12.5%; Ventura County, 11%; and Los Angeles County, 5%.