California’s housing market started the New Year still bearing the scars of 2014’s tight housing inventory and low housing affordability. Statewide home sales not only fell from December 2014, but from January 2014 as well, the California Association of Realtors (C.A.R.) recently announced.
Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 351,890 units in January, according to information collected by C.A.R. from more than 90 local Realtor associations and their multiple listing services statewide.