The median price of an existing single-family detached home in California during October 2005 was $538,770, a 17.2 % increase over the median price of $459,530 in October 2004, the California Association of Realtors reported. The October 2005 median price decreased 1 % compared with September’s $543,980 median price.

“While California is still experiencing year-over-year double-digit price appreciation, prices are starting to level off compared with the statewide peak reached in August 2005,” said C.A.R. President Vince Malta. “Regionally, the median price continues to post strong gains, with the High Desert, Riverside, San Bernardino, and San Luis Obispo regions hitting record highs last month.”

Statewide home resale activity decreased 2.8 % from the sales pace recorded in October 2004.