California Home Sales Remain Flat in September

According to the California Association of Realtors, amid the most favorable mortgage interest rates in nearly three years, California's housing market recorded a third consecutive year-over-year sales increase as month-over-month sales remained essentially flat. Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 404,030 units in September 2019. The statewide annualized sales figure represents what would be the total number of homes sold during 2019 if sales maintained the September pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales.