The resale housing market in California continues to chug along, according to the latest data from the California Association of Realtors.
Unit sales activity in the state was up 0.4% in June over last year, while prices advanced 8.7% to a median of $244,230. The CAR's unsold inventory index continued to run at low levels, at 3.8 months. This represents the number of months needed to deplete the housing inventory at current sales rates. The CAR noted that overall in June, the resale housing market was less frantic due to higher interest rates and higher home prices.
Thanks to Laura Krafft
FULL STORY: Resale Housing Mixed In June
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