Rising interest rates and affordability crunch drag down July home sales and prices, C.A.R. reports
Existing, single-family home sales totaled 295,460 in July on a seasonally adjusted annualized rate, down 14.4 percent from June and down 31.1 percent from July 2021 . July''s statewide median home price was, $833,910 down 3.5% percent from June and up 2.8% percent from July 2021 . Year-to-date statewide home sales were down 13.6 percent in July. LOS ANGELES , Aug. 17, 2022 |PRNewswire| -- Housing demand in California cooled further in July as the effects of rising interest rates and high home prices hit would-be homebuyers, dragging home sales below the annualized 300,000 benchmark level for the first time since May 2020 , the CALIFORNIA ASSOCIATION OF REALTORS ® (C.A.R.) said today. Infographic: https:||www.car.org|Global|Infographics|2022-07-Sales-and-Price Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 295,460 in July, according to information collected by C.A.R. from more than 90 local REALTOR ® associations and MLSs statewide.
Rising interest rates and affordability crunch drag down July home sales and prices, C.A.R. reports
Existing, single-family home sales totaled 295,460 in July on a seasonally adjusted annualized rate, down 14.4 percent from June and down 31.1 percent from July 2021 . July''s statewide median home price was, $833,910 down 3.5% percent from June and up 2.8% percent from July 2021 . Year-to-date statewide home sales were down 13.6 percent in July. LOS ANGELES , Aug. 17, 2022 |PRNewswire| -- Housing demand in California cooled further in July as the effects of rising interest rates and high home prices hit would-be homebuyers, dragging home sales below the annualized 300,000 benchmark level for the first time since May 2020 , the CALIFORNIA ASSOCIATION OF REALTORS ® (C.A.R.) said today. Infographic: https:||www.car.org|Global|Infographics|2022-07-Sales-and-Price Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 295,460 in July, according to information collected by C.A.R. from more than 90 local REALTOR ® associations and MLSs statewide.