CAR on California December Housing: Sales up 7.4% YoY, Inventory down 26.5%, Lowest Inventory in "nearly seven years"

The CAR reported: Low interest rates boost housing market in second half of year as home prices post strong gains in December, C.A.R. reports Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 398,880 units in December, 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 2019 if sales maintained the December pace throughout the year. It is adjusted to account for ......(read more)

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