TALKING POINTS....California

REAL ESTATE TOPICS

TALKING POINTS …

• California home sales posted higher for the second straight month, and while the statewide median home price rose from the previous month as well as a year ago, the pace of appreciation continued to slow, 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 398,940 units in July, according to information collected by C.A.R. from more than 90 local REALTOR® associations and MLSs statewide.  July marked the ninth straight month that sales were below the 400,000 level and a full year that sales have declined on a year-over-year basis.

• Sales in July increased 1.2 percent from a revised 394,250 in June but were down 10 percent from a revised 443,500 in July 2013.  The July 2014 sales rate was the highest since October 2013.  The statewide sales figure represents what would be the total number of homes sold during 2014 if sales maintained the July pace throughout the year.

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