RealtyBizNews - Real Estate Marketing and Beyond
Real Estate Marketing & Beyond
Home » Housing » US Real Estate » California Home Sales Increased in November, Report Says

California Home Sales Increased in November, Report Says

By Tavis J. Hampton | December 16, 2011
  • Monthly and annual home sales numbers increased in November, according to a new report by the California Association of Realtors (C.A.R.). Sales of single family detached homes were up 2.1 percent, and that is good news for real estate professionals.

    Woman showing sales figures

    In October, single family home sales reached 493,140, and in November, they topped 503,570 units, an annual high, and the fifth consecutive month of home sales increases. Moreover, the median price for single-family detached homes in California rose to $280,960 in November, a one-percent increase from October but 5 percent lower than the price in November of 2010.

    What does all of this mean for prospective buyers, homeowners looking to sell, and the real estate agents who represent them? According to LeFrancis Arnold, President of C.A.R., it means that the housing market may be getting stronger, which is “encouraging.”

    “Despite the challenges the housing market has faced, sales are maintaining a pace that is just shy of normal levels, enabling both distressed and non-distressed properties to move and providing a tremendous opportunity for those who are looking to buy a home,” explained Arnold.

    Some of the other interesting facts from the report are that interest rates averaged 3.99 percent in November of 2011, down from 4.3 percent in November 2010, and the average amount of time it took to sell a home in 2010 was 54.8 days, while that number increased to 56.6 days in November of 2011.

    C.A.R. collected the data for its report from over 90 Realtor associations and multiple listing services (MLS) throughout the state of California. The California Association of Realtors is the largest of its kind in the United States, with a membership of over 155,000.

  • Advertise with RealtyBizNews - Media Kit
  • real estate digital marketing
  • Get Free Digital Marketing Training
    right to your inbox
    All Contents © Copyright RealtyBizNews · All Rights Reserved. 2016-2022
    Website Designed by Swaydesign.
    linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram