Nevada City Virtual Tour

Monday, November 25, 2013

Home sales in California continued to grow

  • According to the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.), the share of equity home sales in California continued to grow in September, now making up more than eight of every 10 home sales, the highest level in nearly six years. Meanwhile, the share of short sales fell into the single digits and dropped to levels not seen since January 2009.
    • C.A.R. also reports that non-distressed property sales rose for the 10th straight month, thereby making the share of equity sales in September 85.8 percent, up from 62.7 percent of sales in September 2012.
    • Housing inventory levels improved for the fifth straight month but remained low. The Unsold Inventory Index for equity sales inched up from 3.1 months in August to 3.5 months in September. The supply of REOs edged up from 2.3 months in August to 2.7 months in September, and the supply of short sales rose from 2.3 months in August to 3.8 months in September.

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