California Home Sales Dip in June

According to the California Association of Realtors, after rebounding in May, California home sales fell below the benchmark 400,000 level in June 2019 as sales declined from both the previous month and year. Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 389,690 units in June 2019. The statewide annualized sales figure represents what would be the total number of homes sold during 2019 if sales maintained the June pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales.