California median home price remains strong; buyers confront listings shortage
CAR.org – March 15, 2013 – California’s median home price marked a full year of annual price gains, propelled by strong sales of higher-priced homes in February, while a lack of inventory constrained total home sales for the month, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported.
“The demand for homes remains solid, but a shortage of homes for sale, especially in the lower-priced segments, is negatively impacting housing sales,” said C.A.R. President Don Faught. “Sales of homes priced above $500,000 continue to be strong, posting nearly 31 percent higher than a year ago, while homes priced below $300,000 were down 27 percent from last February due to fewer available homes for sale.”
For a FREE home evaluation, please contact Regina Singh at Regina@ReginaSingh.com