TALKING POINTS...California

REAL ESTATE TOPICS

TALKING POINTS …

• California home sales remained steady in September, as home price gains eased back from an unusually high increase in August, according to the CALIFORNIA ASSOCIATION OF REALTORS®.

• Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 396,440 units in September, according to information collected by C.A.R. from more than 90 local REALTOR® associations and MLSs statewide.  Sales in September inched up 0.4 percent from a revised 394,700 in August and were down 4.2 percent from 413,850 in September 2013.  September marked the 11th straight month that sales were below the 400,000 level and the 14th straight month that sales have declined on a year-over-year basis. 

• The median price of an existing, single-family detached California home fell 4 percent from August’s median price of $480,280 to $460,940 in September but was up 7.6 percent from the revised $428,290 recorded in September 2013.  The statewide median home price has been higher on a year-over-year basis for more than two years.

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