Saturday, December 24, 2005

C.A.R. reports on November 2005 prices

The California Association of Realtors® (C.A.R.) reports that "Median price of a home in California at $548,400 in November, up 16.2 percent from year ago; sales decrease 11.2 percent."

Again sounding the slowing of the market, "While year-to-date sales in November were 1.7 percent above last year’s pace, we are starting to see the ‘soft landing’ we have been expecting. The year-to-year decline in sales is not surprising, given the market was so strong in November 2004. Additionally, rising mortgage interest rates, which have moved above 6 percent over the last few months, contributed to the slowdown in sales," " said C.A.R. Vice President and Chief Economist Leslie Appleton-Young.

To read more: November 2005 home prices

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