August home and sales report

According to the California Association of Realtors, California existing home sales moderated in August as the market continues to return to normal though the median price climbs higher. (statistics provided by C.A.R. website)

C.A.R. reports the following:

  1. existing, single-family home sales totaled 414,860 in August, down 3.3 percent from July and down 10.9 percent from August 2020.
  2. August’s statewide median home price was $827,940, up 2.1 percent from July and up 17.1 percent from August 2020.
  3. year-to-date statewide home sales were up 21.3 percent in August.

Dave Walsh, C.A.R. president states, “The normalizing market and modestly improving housing inventory in the past few months have created an opportunity for homebuyers who sat out the highly competitive housing market seen over much of the past year. With the highest level of active listings in nearly a year, interest rates expected to stay consistently low, and a dip in multiple offers, now is a good time for discouraged buyer’s to get back into the game.”

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