California Home Sales Dip Statewide in June

According to a new report by the California Association of Realtors, California's median home price edged higher to another peak in June 2018 as year-over-year home sales lost steam for the second straight month. Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 410,800 units in June, according to information collected by C.A.R. The statewide annualized sales figure represents what would be the total number of homes sold during 2018 if sales maintained the June pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales.