Sales popped 9.3% from April and jumped 17.6% from May 2011 to total 41,790 new and previously-owned houses bought statewide. The state’s median home price hit $270,000, rising 2.3% from the prior month and up 8.4% from May 2011.
“It’s not exactly a stampede, but people are starting to move off the housing market sidelines in numbers we haven’t seen in quite a while,” DataQuick President John Walsh said. “And it’s not just first-time buyers and investors. There are more move-up buyers in mid- to high-end coastal counties.”
Just slightly more than 1 in 4 homes sold in the Golden State were foreclosures last month, while just under 1 in f5 homes were short sales, according to the data. In Southern California, the number of homes sold soared 21% compared with a year earlier, while the median price jumped 5.4%. In the Bay Area, sales were up 26.1% from May of last year and the median rose 7.5%.
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