California: "Home sales stumble", Inventory up 8.1% YoY

The CAR reported today: California home sales stumble in June as median price hits new high for second straight month, C.A.R. reports Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 410,800 units in June, according to information collected by C.A.R. from more than 90 local REALTOR® associations and MLSs statewide. The statewide annualized sales figure represents what would be the total number of homes sold during 2018 if sales maintained the June pace throughout the year. It is adjusted to account for seasonal......(read more)

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