Driven by non-distressed property sales, home sales in California grew 8.5 in June after a mediocre May, HousingWire reports.
The sale of single-family homes and condominium sales in the Golden State was at 41,539 in June, a 16.4 percent year-over-year increase from 35,681 in June 2014.
“The year-over-year jump was the largest since October 2012, likely due to improving economic conditions and fear of rising interest rates this fall,” Madeline Schnapp, director of economic research for PropertyRadar, told HousingWire.
The median price of California homes in June increased to $415,000, the highest since November 2007.
PB Topical Ref
