California Housing Market Strengthens In April

CoreLogic saw an uptick in Californiahome sales in April, which have been sliding for most of the past year.
April home sales rose more than usual from March and the year-over-year decline in transactions was the smallest since last summer. Several San Francisco Bay Area counties posted annual declines in their median sale prices in April but the statewide median’s modest annual increase was the highest since last November.
An estimated 38,730 new and existing houses and condos sold statewide in April 2019 (Figure 1), up 10.7% from March 2019 and down 4.6% from April 2018, CoreLogic public records data show. Sales this April were the lowest for that month in five years but represented a slight improvement in the sense that the 4.6% annual decline was the smallest since sales began falling year over year last August.
Sales normally edge higher between March and April – since 2000 the average change between those two months is a gain of 1.8%.

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