California Existing Home Sales Declined in December

For the year 2019, annual home sales fell for the second consecutive year to a preliminary 397,910 closed escrow sales in California, down from 2018's pace of 402,640.

California home sales declined in December, the CALIFORNIA ASSOCIATION OF REALTORS said Friday.

Meanwhile, the median home price recorded the second highest price of the year and its largest year-over-year increase since May 2014.

Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 398,880 units in December, according to information collected by C.A.R. from more than 90 local REALTOR associations and MLSs statewide. December's sales total was down 1.0% from the 402,880 level in November and marked the first time in six months that sales fell below the 400,000 benchmark. Still, sales were up a solid 7.4% from December 2018's revised 371,410 figure.