California’s median home price posts highest level in nearly five years as intense competition increases

LOS ANGELES, CA – April 15, 2013 – (RealEstateRama) — Strong sales in higher-cost coastal regions and heated market conditions drove California’s median home price to its highest level in March since May 2008, while inventory shortages continued to stifle home sales, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported.