Excerpt from
C.A.R. Market Matters News Letter dated 8/22/13
- Home prices continued to post strong annual gains, and home sales recorded the first annual increase in six months, according to the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.). Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 443,520 units in July, according to information collected by C.A.R. from more than 90 local REALTOR® associations and MLSs statewide.
- C.A.R. reports that sales in July were up 7 percent from a revised 414,670 in June and up 1.5 percent from a revised 436,870 in July 2012. The year-to-year sales increase was the first since December 2012, following six consecutive months of declines.
- C.A.R.’s July 2013 resale housing report also notes that the available supply of existing, single-family detached homes for sale held steady in July at 2.9 months, unchanged from June’s Unsold Inventory Index. The index was 3.5 months in July 2012. The index indicates the number of months needed to sell the supply of homes on the market at the current sales rate.
