California home sales remain robust, hold at nine-year high

Aug 19, 2015 1:52 PM by News Staff

SAN FRANCISCO (AP) - Sales of California homes remained robust in July, with the number of houses and condos sold at a nine-year high, a research firm reported Wednesday.

CoreLogic Inc. reported an estimated 46,065 new and existing homes sold in California in July. That's up 14.4 percent from last July and maintains strong sales recorded in June.

The statewide median sales price increased 6.4 percent from last July to $415,000.

The median sales price in the Bay Area was $661,000 and in Southern California, $438,000. The median price is the point where half the homes sold for more and half for less.

Supplies remained thin in July. The California Association of Realtors on Tuesday reported a 3.3-month supply of single-family homes for sale, below a normal supply of five to seven months.

Copyright 2015 The Associated Press. All rights reserved.


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