California home sales are sluggish in February, prices rise

Mar 18, 2015 2:44 PM by News Staff

SAN DIEGO (AP) - A research firm says California home sales fell slightly last month as buyers struggled with higher prices and a thin supply of properties for sale.

CoreLogic DataQuick said Wednesday that nearly 26,000 homes sold in the state in February, down 0.4 percent from the same period last year. The median sales price for new and existing houses and condominiums rose for the 36th straight month to $378,000, up 7 percent from a year earlier.

Sales in the San Francisco Bay area fell nearly 11 percent from a year earlier. The Bay area's median sales price was $565,000, up 5 percent from February 2014.

Sales in Southern California slipped a more modest 3 percent from last year. The median sales price in the six-county region rose 8 percent to $415,000.

Copyright 2015 The Associated Press. All rights reserved.

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