California median home price remains strong; buyers confront listings shortage

    California median home price remains strong; buyers confront listings shortage

    LOS ANGELES, CA – March 18, 2013 – (RealEstateRama) — California’s median home price marked a full year of annual price gains, propelled by strong sales of higher-priced homes in February, while a lack of inventory constrained total home sales for the month, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported. Also, consistent with a rebenchmarking conducted by the NATIONAL ASSOCIATION OF REALTORS® (NAR) in December 2011, C.A.R. released today benchmark revisions to historic single-family existing-home sales. Rebenchmarking is an adjustment performed periodically on a series of data to ensure its continued accuracy.

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    Leading the way...® in California real estate for more than 100 years, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) is one of the largest state trade organizations in the United States, with nearly 155,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.

    Contact:

    Los Angeles - Executive Office:
    525 South Virgil Avenue
    Los Angeles, CA 90020-1403
    Phone: (213) 739-8200
    Fax: (213) 480-7724

    Media:

    Mark Giberson
    Phone: (213) 739-8304.

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