The California Association of REALTORS® released the California March housing update from CAR Chief Economist Leslie Appleton Young today. As to be expected, Young says there is a lot of differentiation by region.
Video highlights:
- The number of California home sales is up slightly over February but down slightly from a year ago at 516,690 units.
- March media home price is $301,790, up on a year over year basis by 20.8%. This is the largest year over year gain since 2004.
- There is a 5 months supply of home inventory statewide. There is a 10.9 months supply in the one million plus home price range and a 3.2 months supply for homes $300,000 & below.