Home sales increased 1 percent in October in California compared with the same period a year ago, while the median price of an existing home declined 3.2 percent, C.A.R. reported today.
Closed escrow sales of existing, single-family detached homes in California totaled 562,400 in October at a seasonally adjusted annualized rate. Statewide home resale activity increased 1 percent from the revised 557,050 sales pace recorded in October 2008. Sales in October 2009 increased 5.9 percent compared with the previous month.
The median price of an existing, single-family detached home in California during October 2009 was $297,500, a 3.2 percent decrease from the revised $307,210 median for October 2008, C.A.R. reported. The October 2009 median price rose 0.3 percent compared with September’s $296,610 median price.
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