California housing starts jumped 2.4% April.
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The seasonally adjusted annual level of 284,100 new homes was just 18,000 below the record 302,000 starts set in June, 1978, Bank of America said in a monthly report. Propelled by low mortgage rates, April sales of existing homes hit 496,500, the highest volume since October, 1980. The median home price rose 0.6% to $130,648 from March to April, a 14% price increase from April, 1985.
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