California home sales fall to 1988 levels

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Rising mortgage rates could be affecting sales, analysts say.. In Houston, September home sales fell from the previous year for the first time in five months, although real estate agents and. In Houston, it takes five months longer than it did in 1988. It could be worse, however – if you live in California.

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If you are selling a home in California, you need to be aware of many legal requirements. Making the required disclosures and following the proper procedures will not only help your transaction proceed more smoothly, but will also help you avoid potential liability to the buyer following the sale.

According to DataQuick, of the homes sold in June, 41.9 percent were foreclosure resales, up from a revised 40.1 percent in May and 6.6 percent in June a year ago. Southern California saw.

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Home sales volume in California is starting to decline, but demand remains relatively high, representing an imbalance between supply and demand.. California home sales fall to 1988 levels Low.

Note: The mls median price and sales data in the table below are generated from a survey of more than 90 associations of REALTORS throughout the state, and represent statistics of existing single-family detached homes only. sales data are not adjusted to account for seasonal factors that can influence home sales.

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As would be expected, home sales in Southern California have collapsed in near synchronization with the ending of tax credits and tighter lending guidelines. The July sales figures fell on a year over year basis by 21.4 percent. This is a significant drop in a summer month that usually has solid home sales.

California Pending home sales drop to lowest level in six months. The share of homes selling above asking price fell from 28 percent a year ago to 23 percent in October, while the share of properties selling below asking price inched up from 44 percent to 46 percent. The remaining 30 percent sold at asking price,