California home sales rise in December, posting 11-month sales high
California home sales
rose for the third consecutive month in December, marking the highest level
since January 2011, according to data from C.A.R. Sales also were up from
a year ago, marking the sixth consecutive annual increase.
Closed escrow sales of
existing, single-family detached homes in California totaled a seasonally
adjusted annualized rate of 520,940 in December, according to information
collected by C.A.R. from more than 90 local REALTOR® associations and MLSs
statewide. December’s sales were up 3.3 percent from November’s revised
pace of 504,420 and were up 0.1 percent from the revised 520,330 sales pace
recorded in December 2010.
The statewide median
price of an existing, single-family detached home posted its second consecutive
monthly gain, increasing 1.8 percent to $285,920 in December, up from a revised
$280,960 in November. However, the median price was down 6.2 percent from
the revised $304,770 median price recorded in December 2010.
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