Home sales higher annually as California market continues to thrive

Also, CARs October Market Pulse Survey shows increases in offers
  • Pending sales in California hanging tough, even though slow season has begun.
  • Even though sellers are averaging more than 3 offers per home, the gap in price expectation and reality narrowed.
  • Statewide, 27 percent of homes closed above, and 47 percent closed below the asking price in October.

Across the state of California, pending home sales bounced back from the previous month in October. As a bonus, pending sales were also significantly higher on an annual basis, showing buyer’s hands in plans to close their deals in the next couple of months.