California home sales hit seven-month high in December

by The Real Estate Faction on January 28, 2011

According to the Los Angeles Times closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 520,680 units in December, according to information collected by C.A.R. from more than 90 local REALTOR® associations statewide.  December’s sales were up 5.9 percent from November’s revised pace of 491,590 units, but were down 6.8 percent from the revised 558,840 sales pace recorded in December 2009.  The statewide sales figure is adjusted to account for seasonal factors that typically influence home sales.

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