BUSINESS NOTES : CALIFORNIA HOME PRICES ROSE IN APRIL.Home sales continued to accelerate in most California California (kăl'ĭfôr`nyə), most populous state in the United States, located in the Far West; bordered by Oregon (N), Nevada and, across the Colorado River, Arizona (E), Mexico (S), and the Pacific Ocean (W). communities during April, driving the median price up 9.5 percent as buyers picked among a shrinking inventory of available houses, the California Association of Realtors reported Tuesday Tuesday: see week. . The median price reached $217,090, up from $198,250 in April 1998. The volume of sales rose 7.4 percent to a seasonally adjusted Seasonally adjusted Mathematically adjusted by moderating a macroeconomic indicator (e.g., oil prices/imports) so that relative comparisons can be drawn from month to month all year. rate of 654,730. That figure represents the number of homes that would be sold during all of 1999 if sales continued at April's pace. The median Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. County home price rose 7.5 percent to $200,770 in April from $186,760 a year before. At the same time sales cooled, rising 1 percent on an annual basis. In Ventura County, the median price rose 11 percent to $255,600 while sales dropped 10.3 percent, the group said. - Daily News staff and wire |
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