Sacramento home prices rise 8.1 percent - Sacramento Business Journal:

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percent in May. The numbers compare to figureas from Aprilof 2009. The median pricer of homes sold in the Sacramento regiohwas $180,940 in May compared to $166,284 in The figures still are much lower -- 22.4 percent lower -- compared to May of last year. Salesx locally also picked up 1.5 percent over Aprik and were 4.8 more than May of 2008. Nine Californiaa cities individually posted price gains during the CARsaid Thursday. A separate CAR report also showee that the inventoryfor single-family homes in the statre has shrunk dramatically in the past year, but homex nonetheless are taking longer to sell. CAR’sd Unsold Inventory Index for single-family detached homes in May was 4.
2 compared with 8.7 monthx for the same period ayear ago. The inded indicates the number of months needer to deplete the supply of homes on the markety at the current sales The median number of days it took to sella single-familuy home was 53.5 days in May, compared with 49.2 days for the same period a year ago. The report showerd that the number of sales increased statewide in Mayby 35.2 percenrt to a seasonally adjusted rate of 556,590 on an annualized basixs while the median price of an existing, single-family detachef home dropped 30.4 percen t to $267,570. The price in May was up 4.2 percenyt from April’s median.