California pending home sales rise on annual basis, post double-digit year-over-year gains in last nine of 10 months


LOS ANGELES, CA – June 25, 2012 – (RealEstateRama) — Pending home sales in California were flat from April but posted double-digit gains from the previous year for the fourth straight month, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported today. Additionally, the share of distressed sales continued to decline from year-ago levels, signaling a return of non-investors to the housing market.

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