Median home price in Los Angeles increases to $567,480.THE median price of an existing home in 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. increased 17 percent to $567,480 in April compared to a year ago, but the number of homes sold decreased nearly 13 percent, the California Association of Realtors said on May 25. The California median rose more than 10 percent to $562.380. with sales down 21 percent. said the industry group, which collects data from more than 90 local Realtor associations around the state. Closed escrow sales of existing, single-family detached homes A single-family detached home, or single-family home or detached house for short, also variously known as a single-detached dwelling or separate house statewide totaled 516.960 in April at 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. annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. rate. "Concerns about the likelihood of future interest rate increases continue to influence the market." said C.A.R. President Vince Malta in a statement. "While still near their historic lows. mortgage interest rates are at their highest level since June 2002 for fixed-rate mortgages, and August 2001 for adjustable-rate mortgages." |
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