A Closer Look at the Mix of Home Sales

An interesting look at the housing trends as the sales and prices begin their recovery. From the California Association of Realtors' Oscar Wei, Senior Research Analyst and Sara Sutachan, Senior Research Analyst...

California home sales continue to stay strong with seasonally adjusted annualized sales in July increasing 8.1 percent to 553,910 from 512,530 in June and 12.0 percent above the revised year-ago figure of 494,390. The year-to-year percentage gains in sales have moderated in recent months, and the 12 percent increase over the prior year was the smallest increase since April 2008. Year-to-date sales, nevertheless, remained well above the sales level of last year, with a 43.4 percent increase over the same period of 2008.

The statewide median price at $285,480 in July increased for the fifth consecutive month with a 3.9 percent increase over the prior month median price of $274,740. The yearly decline of 19.6 percent was also the smallest in the last 19 months.

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