Wednesday, July 30, 2014
PLACERVILLE, CALIFORNIA
99 CENTS

California housing market continues to post strong gains

By
From page C15 | June 22, 2012 |

California’s housing market continued to improve in May, with home prices posting solid gains for the third straight month and home sales well above last year’s pace, the California Association of Realtors states.

“California home sales were strong in May, continuing the gradual recovery of the California housing market,” said CAR President LeFrancis Arnold. “First-time buyers are recognizing that the housing market has hit bottom and are now seeing a sense of urgency to take advantage of ultra-low interest rates and advantageous home prices.  Additionally, trade-up buyers are returning to the market after sitting it out for the past few years to get in on favorable home prices.”

Closed escrow sales of existing, single-family detached homes in California climbed 3.4 percent from April’s revised 553,670 to a seasonally adjusted annualized rate of 572,260 in May, according to information collected by CAR from more than 90 local Realtor associations and MLSs statewide. May sales surged 21.5 percent from May 2011’s revised 470,910 pace, marking the highest year-over-year sales increase since May 2009. The statewide sales figure represents what would be the total number of homes sold during 2012 if sales maintained the May pace throughout the year and is adjusted to account for seasonal factors that typically influence home sales.

The May 2012 sales pace was the highest since February 2009, when 598,770 homes were sold at a seasonally adjusted annualized rate.

Home prices appear to be stabilizing, with the median home price posting both month-over-month and year-over-year gains for the third consecutive month. The statewide median price of an existing, single-family detached home was $312,110 in May, the highest since September 2010.

California’s housing inventory sank lower in May, with the Unsold Inventory Index for existing, single-family detached homes dropping to 3.5 months in May, down from 4.2 months in April. May’s housing inventory was down from a revised 5.7 months in May 2011. The index indicates the number of months needed to sell the supply of homes on the market at the current sales rate.  A 7-month supply is considered normal.

Comments

comments

.

News

 
District 2 candidate statements tell of goals

By Dawn Hodson | From Page: A1

Sand Fire nears containment: 66 structures destroyed

By Cole Mayer | From Page: A1 | Gallery

 
Schedule for Highway 50 blasting closures

By News Release | From Page: A3

Tails wagging over dog park approval

By Julie Samrick | From Page: A3

 
Quarter-acre fire in Kelsey

By Rebecca Murphy | From Page: A3

.

Opinion

My Turn: Privatization of public services

By Mark Belden | From Page: A4

 
Policy book

By Mountain Democrat | From Page: A4

 
.

Letters

Comments sign-in policy

By Letters to the Editor | From Page: A5, 1 Comment

 
Save the Guinea Worm

By Letters to the Editor | From Page: A5, 1 Comment

Large bangs

By Letters to the Editor | From Page: A5, 2 Comments

 
Private property gets no respect

By Letters to the Editor | From Page: A5

GDPUD management report

By Letters to the Editor | From Page: A5

 
District 2 supervisorial special election

By Letters to the Editor | From Page: A5

Piano replaced

By Letters to the Editor | From Page: A5

 
.

Sports

Ex-Bruin lends a helping hand

By Steven Shaff | From Page: A8 | Gallery

 
Sierra Sharks finish middle of the pack

By Democrat Staff | From Page: A8

Roundup: July 29, 2014

By Democrat Staff | From Page: A8

 
Taz pull through for SSL trophy

By Patty Pope | From Page: A8

.

Prospecting

Nuns discover a pleasant place

By Lexi Boeger | From Page: B1 | Gallery

 
At a glance: Game time

By Mimi Escabar | From Page: B2

Barbecue dinner to benefit Blue Star Moms

By Mount Aukum Winery | From Page: B2

 
Bargains can be found everywhere

By Democrat Staff | From Page: B2 | Gallery

Stagecoach story takes riders on a trip

By Wendy Schultz | From Page: B3

 
Help needed to make cool ties

By Sew 4 | From Page: B3

Stroke and osteoporosis screenings planned

By Life Line Screening | From Page: B3

 
Gold Rush Days activities cancelled this year

By Sacramento Convention And Visitors Center | From Page: B4

Master Food Preservers: Tomato time

By Monique Wilber | From Page: B4

 
Build an author platform at the Library

By El Dorado | From Page: B5

 
Sacramento area museums offer summer fun

By Sacramento Association Of Museums | From Page: B5

.

Essentials

Weather stats 7-29-14

By Michael Raffety | From Page: A2

 
Building permits 6/2-6/2014

By Michael Raffety | From Page: A2Comments are off for this post

Crime Log: July 17

By Cole Mayer | From Page: A2

 
.

Obituaries

Wallace Murrel Thomas

By Contributor | From Page: A2

 
Merlyn Wilbur Adams

By Contributor | From Page: A2

Lisa Oliver Rose

By Contributor | From Page: A2

 
.

Real Estate

.

Comics