November home sales and price report
November home sales and price report
LOS ANGELES (Dec. 17) – • California had its largest yearly increase in existing home sales since June 2021 in November, but overall, the housing market remained a work-in-progress. Despite a double-digit growth rate from their year-ago level, sales of existing single-family homes remained well below the pre-Covid norm of 400,000 units, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today.
Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 267,800 in November, according to information collected by C.A.R. from more than 90 local REALTOR® associations and MLSs statewide. The statewide annualized sales figure represents what would be the total number of homes sold during 2024 if sales maintained the November pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales.
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Source : CALIFORNIA ASSOCIATION OF REALTORS®