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RealtyTrac: Home Prices Continue Ascension In August

  

The report says California saw a 32% annual increase in median home sale prices in August, that's the highest of any state. Nevada came in second with a 26% increase. But Daren Blomquist with RealtyTrac, the research firm that released the data, says California home sales last month were still disappointing.

"What stood out as maybe a little bit of a red flag in California is that it was one of only four states where we saw actually a decrease in sales volume."

Annual sales were down 17% last month. Blomquist says it's because the supply of homes on the market is down. Meanwhile, Blomquist says the story was much the same for sales in the Sacramento area which were down 14%. Home values were a different story.

"Sacramento's one of those up there where we've seen very strong increases in median prices. In Sacramento it was 35% year over year."

The median sales price in the Sacramento area last month was $260,000.

Steve Milne

Morning Edition Anchor & Reporter

Steve is the voice of Capital Public Radio News as anchor of Morning Edition and Insight. He covers stories on a wide range of topics including: business, education, real estate, agriculture and music. Steve also produced stories for CapRadio.org.   Read Full Bio