California home sales cool in November after strong summer

Dec 17, 2015 3:57 PM by News Staff

SAN DIEGO (AP) - A research firm says California home sales in November slid sharply from a month earlier, extending an autumn cooldown as prices rose.

CoreLogic Inc. said Thursday that about 31,000 new and existing homes and condominiums sold last month, down 21 percent from October. Sales typically fall during that time but this year's decline was unusually sharp.

Sales were still up 3 percent from the same period last year and the latest month-to-month decline follows a brisk summer.

The median sales price was $415,000, up 3 percent from in October and up 8 percent from November 2014. It marks the 45th straight months of annual price increases, though gains have moderated since the middle of 2014.

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