California Home Sales for August 2016

Posted by Hartanov Real Estate Team on Tuesday, October 4th, 2016 at 5:24am.

california home sales

California home sales downshifted in August as low housing affordability and a tight supply of homes for sale cut into demand, especially in high cost areas of the San Francisco Bay area region. Home sales remained above the 400,000 pace for the fifth straight month, but sales have declined year over year for the sixth consecutive month.

420,000 California homes sold in August 2016 compared to 416,000 in July 2016 and and 430,000 in August 2015.

The median selling price in August 2016 rose to $526,000 compared to $518,000 in July 2016 and from $498,000 in August 2015.

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