The latest report from the California Association of Realtors, shows that closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 420,100 units in January 2017. That is an impressive up of 2.1% from the 411,430 level in December 2016, and up 4.4% when compared with home sales in January last year of a revised 402,220.
California home sales start 2017 on a strong note
According to the CAR report, the median price of an existing, single-family detached California home fell 3.8% from a revised $508,870 in December to $489,580 in January. That also marked the first time in since March 2016 that California’s median sales price fell below half a million dollars. But as CAR’s report notes, the decline from December to January is smaller than normal, which indicates health… Read more at HousingWire
The index rate, plummeted a full month to 3 months in March from 4 months in February. And added to that perspective, the index stood at 3.6 months in March 2016. Meanwhile, the median price of an existing, single-family detached California home increased to more than $500,000 in March, rising to $517,020.
Despite adverse conditions, California home-buying season off to a good start
While low housing inventory and slow wage growth are par for the course in California, the state pushed past those roadblocks to record a strong start to the year, according to the California Association of Realtors’ latest report, which collects data from more than 90 local Realtor associations and MLSs statewide. Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of… Read more at HousingWire
How NIMBYs drive up housing prices in California
Carson Bruno explains how NIMBYs are making California’s affordable housing crisis even worse by blocking much needed, high-density urban development projects… Watch here