California homes sales increased 84.9% in December, compared with the same period last year. The California Association of Realtors (C.A.R.) reports that "Closed escrow sales of existing, single-family detached homes in California totaled 544,580 in December...Statewide home resale activity increased 84.9 percent from the revised 294,520 sales pace recorded in December 2007. Sales in December 2008 increased 5.9 percent compared with the previous month."
The median home price decreased 41.5% over December, 2007. C.A.R. statistics are that "The median price of an existing, single-family detached home in California during December 2008 was $281,100, a 41.5 percent decrease from the revised $480,820 median for December 2007 ... The December 2008 median price fell 2 percent compared with November’s revised $286,850 median price."
To read more: C.A.R. press release