CAR on California: "Lower interest rates perk up May home sales"

The CAR reported: Lower interest rates perk up May home sales as median price reaches another high California's median home price edged higher to another peak for the second straight month as lower interest rates helped bolster home sales in May, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today. Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 406,960 units in May, according to information collected by C.A.R. from more than 90 local REALTOR® associations and MLSs statewide. The statewide annualized sales......(read more)

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