C.A.R. Reports Sales Decrease 27.8 Percent in April, Median Price of a Home in California at $597,640, up 6.2 Percent from Year Ago
LOS ANGELES–(BUSINESS WIRE)–Home sales decreased 27.8 percent in April in California compared with the same period a year ago, while the median price of an existing home increased 6.2 percent, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported today.
“April sales fell in part because of tighter credit standards and growing concerns about the impact of subprime loans on the market,” said C.A.R. President Colleen Badagliacco. “Throughout the state inventory levels have increased to their highest levels in recent years, giving buyers more time to view a greater variety of homes and sellers who set realistic prices an edge in the market.”
