California Association of Realtors just released its report for April real estate activity.

Calif. median home price - April 08: $403,870 (Source: C.A.R.) (note: compared to $430,370 last month)

Calif. highest median home price by C.A.R. region April 08: Santa Barbara So. Coast $1,170,000 (Source: C.A.R.) (note: compared to $1,135,000 last month)

Calif. lowest median home price by C.A.R. region April 08: High Desert $210,860 (Source: C.A.R.) (note: compared to $234,310 last month)

Calif. First-time Buyer Affordability Index - First Quarter 2008: 44 percent (Source: C.A.R.) (note: compared to 33 percent third quarter 2007)

Mortgage rates – week ending 05/22:

• 30-yr. fixed: 5.98%; Fees/points: 0.5% (note: compared to 6.03% and 0.3% points last report)
• 15-yr. fixed: 5.55%; Fees/points: 0.6% (note: compared to 5.62% and 0.3% points last report)
• 1-yr. adjustable: 5.24%; Fees/points: 0.6% (note: compared to 5.29% and 0.5% points last report)

- California Association of Realtors & Freddie Mac