CA: Continued Shortage of Homes for Sale

For release:
February 21, 2013

Continued shortage of homes 

on the market and seasonal 

slowdown send California 

home sales and prices lower 

in January, C.A.R. reports

LOS ANGELES (Feb. 21) – A typical 

seasonal slowdown, combined with 

a scarcity of available homes for sale 

put a damper on the California housing 

market in January, with both home sales

 and median price declining from December, 

the CALIFORNIA ASSOCIATION OF 

REALTORS® (C.A.R.) reported. 

“A rush by home buyers trying to complete 

sales of higher-priced homes by the end of 

last year in order to avoid capital gains 

increases pulled forward sales that might 

have closed in January instead,” said C.A.R. 

President Don Faught.  “Additionally, the 

extreme shortage of homes for sale continues 

to hinder California’s housing market, as 

demonstrated by the nearly two months’-supply 

drop compared with last year.”

Web Source:

http://www.car.org/newsstand/newsreleases/2013releases/jansales#