On February 15, 2012, California Association of Realtors (C.A.R) reported that home sales in California were lower 0.6% to 517,740 from December of 2011, and dipped 5.7% to 548,760 unit from January 2011.
There were 5.5 months supply of available inventory single family homes in January 2012, higher from 4.1 months of supply in December of 2011, but down 6.8 months supply from in January 2011.
On average, it took 61.9 days to sell a single family home in January 2012, compared with 61.8 days for the same time in January 2011.
C.A.R. Vice President and Chief Economist Leslie Appleton-Young stated that, “Seasonal factors in the non-distressed market also played a role in the softening of the median home price, as prices typically decline in the non-peak home buying season.”
It appears that home buyers were not motivated enough to buy real estate during the holidays, despite historic low interest rates and lower priced distressed properties in January of 2012.
For a complete more detailed information about the California Association of Realtors’ home sales report January of 2012, please CLICK HERE
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