Talking Points …
- California’s housing market continued to perform better than expected in April with both the median home price and home sales increasing month to month, according to the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.).
- Sales in April increased 7.4 percent from a revised 367,020 in March but were down 7 percent from a revised 423,690 in April 2013. The statewide median price of an existing, single-family detached home rose 3.2 percent to $449,360 in April compared with March, reaching its highest level since December 2007.
- Housing inventory remained tight in April, with the supply of existing, single-family detached homes for sale slipping last month to 3.5 months, down from March’s Unsold Inventory Index of 4 months, but up from 2.8 months in April 2013.