Wednesday, March 10, 2010

CA Sales Ahead of US by 20 Months

Sales for existing homes in both the US and California markets bottomed out at the
same time in late 2007. However, it was mid-2009 before US sales of existing homes
began to show signs of improvement. By contrast, California's existing home market
experienced strong sales throughout much of 2008 and all of 2009. As of October
2009, sales in California were 28.9 percent ahead of last year for the first 10 months 
of the year, and have been above 500,000 for 14 consecutive months since
September 2008. For the year 2009, annual sales of existing single-family homes are
expected to increase 22.8 percent to 540,000, and are projected to reach 527,500
with an annual decline of 2.7 percent in 2010.

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