Home Sales decrease 22.2 percent in November, median price of a home in California at $555,290, up 1.4 percent from year ago
LOS ANGELES (Dec. 21) – Home sales decreased 22.2 percent in November in California compared with the same period a year ago, while the median price of an existing home increased 1.4 percent, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported today.
“After fairly steep declines in sales during the first half of the year, the market appears to have stabilized at about 450,000 sales on a seasonally adjusted annualized basis,” said C.A.R. President Colleen Badagliacco. “The median price is holding steady in the $545,000 to $550,000 range, and increased just 1.4 percent last month compared with a year ago.”
Closed escrow sales of existing, single-family detached homes in California totaled 450,930 in November at a seasonally adjusted annualized rate, according to information collected by C.A.R. from more than 90 local REALTOR® associations statewide. Statewide home resale activity decreased 22.2 percent from the 579,560 sales pace recorded in November 2005.
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