California Home Prices Up 30% Since Bottom

California, here we come! One of the earliest-hit areas in the housing crisis, the Golden State is showing definite signs of real estate rebirth. Since February 2009, the median price of existing, single-family homes in the state has grown nearly 30 percent, according to the California Association of Realtors, after dropping 58.8 percent from its high in 2007. The median price surged 8.6 percent, year over year, in August; in July, it was up 1.2 percent. From February 2009, it gained 29.9 percent to $318,660. The California city with the highest median home price in August ($1,795,000) was the San Francisco suburb of Los Altos -- home to Apple's Steve Jobs, among other tech titans, and one of the wealthiest communities in the United States.

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