California Home Sales:
Southern California Home Sales Prices Up 19.6% In December

California Home Sales Showing Good Numbers For The Future

With a record number of cash buyers flooding the market, California home sales in December of 2012 posted some impressive numbers that portend well for 2013. Most experts agree that at the run-up to the end of the year the California home sales market showed some numbers that cannot be sustained over the long-term. However, all in all the signs are good for continued market recovery over the coming year.

Here's a comprehensive article by Alejandro Lazo in the Los Angeles Times:

December home prices jump 19.6% in Southern California

"In California, buyers can anticipate a tight market in the near term. A supply of only about 2 1/2 months' worth of single-family homes for sale was available statewide at the end of December, the California Assn. of Realtors reported Tuesday. A supply ..."
http://www.latimes.com/business/realestate/la-fi-home-prices-20130116,0,3877030.story

California Home Sales Numbers In December Driven By Upper End

As noted in the article, the California home sales numbers cited here were driven largely by "upper end" homes selling before years end. This was especially true in the So Cal area, and probably reflects uncertainty on the part of the "well to do" concerning tax rates during the coming year. All in all, however, the numbers are good. We may be looking at a short term market correction over the next couple of months, but overall the California home sales market appears in good shape as we head into 2013.

California Home Sales.