California Home Sales Start Off Year Strong... But Will That Last? #realestate #homeownership

Source:  Housing Wire

The Golden State recorded an increase in home sales between December and January this year, which is a major feat given that this hasn't happened since 2012.  
But, according to the latest existing-home sales report from the California Association of Realtors, California home sales and median prices backpedaled on a monthly basis in February.  However, both still showed strong gains on a yearly basis.  C.A.R., which puts out the report on a monthly basis, uses information collected from more than 90 local Realtor associations and MLSs statewide to create the report.

Existing, single-family home sales totaled 400,500 in February on a seasonally adjusted annualized rate, down 4.7% from January and up 4.9% from February 2016.  Despite the decline, this marks the 11th consecutive month closed escrow sales of existing, single-family detached homes in California remained above the 400,000 benchmark.

Check out the full story here:  http://www.housingwire.com/articles/39596-california-home-sales-start-year-off-strongbut-will-that-last?eid=311685553&bid=1696513

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