03 Mar January home sales and price

January home sales and price report

According to the California Association of Realtors, higher interest rates affected home sales in January. It was at its lowest level in more than a year. (CAR.org)

Existing single-family home sales totaled 254,110 in January on a seasonally adjusted annualized rate, down 10.0 percent from 282,490 in December and down 1.9 percent from 259,160 in January 2024. (CAR.org)

January’s statewide median home price was $838,850, down 2.6 percent from December and up 6.3 percent from $789, 480 in January 2024. (CAR.org)

Year-to-date statewide home sales were down 1.9 percent. (CAR.org)

According to C.A.R. President Heather Ozur, “Home sales slowed last month, impacted by high mortgage rates and the devastating wildfires in Southern California.”

She adds, “While sales are expected to remain soft this month and next, it is encouraging to see an uptick in new listings as the market gears up for the spring home buying season. The improvement in supply conditions will offer buyers more options to choose from and allow some demand to be fulfilled as competition heats up in coming months.”

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