C.A.R. reports March sales increased 63.8 percent, price declined 39 percent
Home sales increased 63.8 percent in March in California compared with the same period a year ago, while the median price of an existing home declined 39 percent, C.A.R. reported Monday.

Quick Facts:
· Existing, single-family home sales increased 63.8 percent in March to a seasonally adjusted rate of 522,980 on an annualized basis
· The statewide median price of an existing single-family home increased 2.2 percent in March to
$253,040 compared with February 2009
· C.A.R.'s Unsold Inventory Index fell to 5 months in March, compared with 12.2 months in March 2008
· The median number of days it took to sell a single-family home declined to 48.3 days in March 2009, compared with 56.8 days in March 2008

For more information visit http://www.car.org/newsstand/newsreleases/marchsalesandpricereport/