Real Estate Facts
Quick Facts:
· Existing, single-family home sales increased 49.2 percent in April to a seasonally adjusted rate of
540,360 on an annualized basis
· The statewide median price of an existing single-family home increased 1.4 percent in April to
$256,700, compared with March 2009
· C.A.R.’s Unsold Inventory Index fell to 4.6 months in April, compared with 9.8 months in April 2008
· The median number of days it took to sell a single-family home declined to 48.7 days in April 2009,
compared with 51.8 days in April 2008
C.A.R. reports April home sales increased 49.2 percent, median home price declined 36.5 percent
LOS ANGELES (May 28) – Home sales increased 49.2 percent in April in California compared with the same period a year ago, while the median price of an existing home declined 36.5 percent, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported today.
“With annualized sales at 540,360 units, April marked the eighth consecutive month of home sales above the 500,000 level,” said C.A.R. President James Liptak.
“Regional sales were impacted by the state’s two-tier market,” he said. “ Inventory levels for homes in the under $500,000 segment shrank to nearly three months in April, compared with almost 10 months a year ago, while unsold inventory in the more than $1 million segment rose to approximately 17 months, compared with roughly 10 months in April 2008.
“The dramatic difference in inventory exemplifies how the low end of the market is attracting more first-time buyers and investors, creating a shortage of distressed properties for sale,” he added.
Closed escrow sales of existing, single-family detached homes in California totaled 540,360 in April 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 increased 49.2 percent from the revised 362,170 sales pace recorded in April 2008. Sales in April 2009 increased 3.2 percent compared with the previous month.
· Existing, single-family home sales increased 49.2 percent in April to a seasonally adjusted rate of
540,360 on an annualized basis
· The statewide median price of an existing single-family home increased 1.4 percent in April to
$256,700, compared with March 2009
· C.A.R.’s Unsold Inventory Index fell to 4.6 months in April, compared with 9.8 months in April 2008
· The median number of days it took to sell a single-family home declined to 48.7 days in April 2009,
compared with 51.8 days in April 2008
C.A.R. reports April home sales increased 49.2 percent, median home price declined 36.5 percent
LOS ANGELES (May 28) – Home sales increased 49.2 percent in April in California compared with the same period a year ago, while the median price of an existing home declined 36.5 percent, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported today.
“With annualized sales at 540,360 units, April marked the eighth consecutive month of home sales above the 500,000 level,” said C.A.R. President James Liptak.
“Regional sales were impacted by the state’s two-tier market,” he said. “ Inventory levels for homes in the under $500,000 segment shrank to nearly three months in April, compared with almost 10 months a year ago, while unsold inventory in the more than $1 million segment rose to approximately 17 months, compared with roughly 10 months in April 2008.
“The dramatic difference in inventory exemplifies how the low end of the market is attracting more first-time buyers and investors, creating a shortage of distressed properties for sale,” he added.
Closed escrow sales of existing, single-family detached homes in California totaled 540,360 in April 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 increased 49.2 percent from the revised 362,170 sales pace recorded in April 2008. Sales in April 2009 increased 3.2 percent compared with the previous month.
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