California’s housing market finishes 2012 on a high note

California’s median home price struck a four-year high for a December, indicating housing will probably continue to mend in the new year.

The statewide median popped 21.5% from December 2011 to hit $299,000, real estate research firm DataQuick reported Wednesday. Last month’s gain adds to a housing recovery that began in earnest last year after foreclosures declined, housing inventory plummeted, mortgage interest rates hit record lows and demand from investors surged last year.

View Article