California Realtors Say Tight Inventories Constraining Home Sales, Prices are Increasing

Hot news from AZ Home Help:

Posted To: MND NewsWire

For the last few months the National Association of Realtors® (NAR) has been making some general statements that tight inventories of existing homes are "in some locations" impacting home sales. Today the California Association of Realtors® (C.A.R.) confirmed that they are one of those locations. C.A.R. said that "A continued shortage of available homes for sale lowered California home Sales in September, while the median price reached the highest level in more than four years." Closed escrow sales of existing single-family residences (SFR) were at a seasonally adjusted annual rate of 484,240 units, down 5.2 percent from sales in August and 1.2 percent lower than in September 2011. The tight inventory of unsold homes eased slightly in September, edging up to a 3.7 month supply from...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: www.mortgagenewsdaily.com

- For more real estate news visit our website at http://www.AzHomeHelp.com