Home prices are up in the central San Joaquin Valley and other areas statewide as the spring buying season gets off to a strong start despite falling inventory, according to the California Association of Realtors.
In Fresno County, the median home price of an existing home was $217,510 in April compared to $213,960 the month before, the association’s April home sales and price report said. That’s a 13% increase from a year ago when the home price was $192,880.
Home prices are also up month-over-month in Madera and Tulare counties while it fell slightly in Kings County.
“It’s encouraging that the spring home-buying season is off to such a strong start,” said Chris Kutzkey, association president.
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“We are finally seeing some of the pent-up housing demand that we talked about in the past turning into actual sales, thanks to solid job growth, record-low interest rates, and looser lending requirements.”
Median sold price of an existing single-family house
Source: California Association of Realtors