Markets & Economy

California on pace for nearly 440,000 single-family sales

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Are you set up for success in 2016? Join 2,500 real estate industry leaders Aug. 4-7, 2015, at Inman Connect in San Francisco. Get Connected with the people and ideas that will inspire you and take your business to new heights. Register today and save $100 with code Readers. Existing single-family home sales volume in California recently reached the highest level in two years. According to the California Association of Realtors (CAR), the state’s single-family market in June experienced its first double-digit increase since May 2012. If sales activity maintains its June pace, CAR estimates 437,040 single-family homes will be sold this year. In May, CAR estimated 423,000 homes would be sold based on that month’s activity. June 2014’s estimate was at 393,820 homes, an 11 percent difference when compared to June 2015. CAR reports that 35 counties witnessed double-digit increases in sales activity, with only four counties citing year-over-year decreases. Count...