The median home price in California posted year-over-year double-digit gains for the 16th consecutive month, according to the California Association of Realtors.The median price of a home in the state was $352,780, up 15.3% from the revised figure of $305,840 for the comparable period in 2002. During the same period, sales decreased 3.2%, with closed escrow sales of existing single-family detached homes totaling 567,610 at a seasonally adjusted rate. This decline in sales was expected, said Leslie Appleton-Young, CAR's vice president and chief economist. CAR can be found on the Web at http://www.car.org.
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