California’s Median Home Prices Reach Record High in April

Buying a home in California is becoming even more expensive and sales have increased even as mortgage interest rates continue to rise, according to the latest report by the California Association of Realtors published May 17. The statewide median home price—meaning half the prices are lower and half higher—reached a record high in April, exceeding $900,000 for the first time, the association reported. “April’s rebound in both home sales and price shows the resilience of California’s housing market and is a signal that buyers and sellers are beginning to adjust to the higher interest rate environment,” the association’s President Melanie Barker said in a statement....