Talking Points …
- California home sales eased slightly in May as a shortage of homes and housing affordability concerns held back would-be home buyers, according to the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.).
- May marked the seventh straight month that sales were below the 400,000 level and the tenth straight decline on a year-over-year basis. Sales in May dipped 0.6 percent from a revised 393,480 in April and were down 9.5 percent from a revised 432,140 in May 2013.
- For the third straight month, the statewide median price of an existing, single-family detached home rose both month to month and year to year. May’s median price increased 3.7 percent from April’s median price of $449,360 to $465,960 and was up 11.7 percent from the revised $417,140 recorded in May 2013.