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California home sales surge in August with prices at highest point of year 

Sep 16, 2011By

California home sales posted an increase from both the previous month and previous year, while the median home price rose to its highest level this year, according to data from the California Association of Realtors. Closed escrow sales of existing, single-family homes rose to a seasonally adjusted 497,390 units in August, up 8.6% from a revised 457,930 in July and up 10.2% from a year ago, according to CAR, which gets its data from more than 90 local real estate associations and multiple listing services statewide.

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