Talking Points …
- According to the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.), California home sales declined for the third straight month in October, while sales of condominiums and townhomes continued to be strong. Economic uncertainty surrounding last month’s government shutdown and a typical seasonal slowdown dragged down the state’s home sales.
- Sales in October were down 2.7 percent from a revised 412,260 in September and down 11.1 percent from a revised 451,090 in October 2012.
- The statewide median price of an existing, single-family detached home edged down 0.3 percent from September’s median price of $428,740 to $427,290 in October. October’s price was 25.3 percent higher than the revised $340,910 recorded in October 2012, marking the 16th straight month of double-digit annual gains.