California housing market continues to post strong gains in May, home sales rise to highest level in more than three years; low inventory a critical issue

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By CAR -

LOS ANGELES, CA – June 18, 2012 – (RealEstateRama) — California’s housing market continued to improve in May, with home prices posting solid gains for the third straight month and home sales well above last year’s pace, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today.

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