Home prices edge upward?

From Business Week:

Although it’s too early to say the market has bottomed out, there are some indicators that prices may be stabilizing.

MAKING SENSE OF THE STORY FOR CONSUMERS

· The median price for existing, single-family homes rose 2.2 percent in March in California, according to the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.). March marked the first month since August 2007 that the state’s median sales price rose in month-to-month comparisons. According to the C.A.R. sales and price report, the median price of existing, single-family homes stood at $253,040 in March.

· Sales in California have soared in recent months, with existing, single-family home sales increasing 63.8 percent in March to a seasonally adjusted rate of 522,980 on an annualized basis.

To read the full story, please click here