C.A.R. reports March sales increased 63.8 percent, price declined 39 percent

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/