realtors

California home sales fell in February, but housing inventory increased as sellers gear up for the spring home-buying season, the California Association of Realtors (C.A.R.) reported on March 17.

Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 361,210 in February, according to information from more than 90 local Realtor associations and MLSs statewide. February marked the fourth straight month that sales were below the 400,000 level and the seventh straight decline on a year-over-year basis.