First gain for Calif. prices in 16 months

REALTORS®: First gain for Calif. prices in 16 months The median price for an existing, single-family home in California rose 1.6 percent in March compared with the year before, marking the first year-over-year increase in 16 months, the CALIFORNIA ASSOCIATION OF REALTORS® reported Monday. Making sense of the story The statewide median price of an …

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Sales of Distressed Properties Down in California, Equity Sales Up

Sales of Distressed Properties Down in California, Equity Sales Up In California, the sale of distressed properties slowed down as equity sales picked up in February after two months of decline, the California Association of Realtors (C.A.R.) reported this week. “A lack of inventory in the bank-owned (REO) and short sale market was a contributing …

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California housing affordability rises in Q3

Housing affordability increased in 22 of the state’s 28 metropolitan areas in the third quarter, according to the California Building Industry Association’s Housing Opportunity Index (HOI). On a statewide basis, the HOI found that a family earning the median income could have afforded 63.5 percent of the new and existing homes that were sold during …

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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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