California home sales increase in October

Home sales increased 8.5 percent to a seasonally adjusted annual rate of 493,240 units in October compared with a year earlier, C.A.R. reported.  On a month-over-month basis, home sales in the state rose 0.9 percent. “Based on preliminary analysis, it appears that the lower conforming loan limits has had a cooling effect on home sales …

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Home prices drop in February

Following three months of sales gains, California home sales posted a weaker-than-expected performance and declined in February, according to data from the California Association of Realtors® (C.A.R.).  The statewide median price of an existing, single-family detached home sold in California also declined in February. MAKING SENSE OF THE STORY Closed escrow sales of existing, single-family …

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