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Local home prices fall again
| Wednesday, Jun 25 2008 2:39 PM
Last Updated: Wednesday, Jun 25 2008 2:35 PM
Bakersfield’s median home price continued its downward march in May, according to a new report by the California Association of Realtors, an industry lobbying group.
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The city’s median home price was $216,000 last month, 3.1 percent lower than April’s figure of $223,000, according to the association. May’s median price was down 21.5 percent from $275,000 in the same month a year ago.
Statewide the median home price plunged 35.3 percent over the past year.
Home sales in California increased 18.1 percent over the same period a year ago, the second month of sales increases following 30 months of year-over-year decreases.