Slight Slowdown in Sales but Continued Stability in California Housing Market

Slight Slowdown in Sales but Continued Stability in California Housing Market

Existing home sales softened in May to 423,360 units from 427,880 in April. Nevertheless, the May number was 8.9% above the figure from May 2014 and represented the second highest level in nearly two years. The 1.1% dip does not appear to be any cause for concern as the spring selling season appears to be strong and outperforming the prior year.

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Michael Anderson
Michael Anderson 249 posts

Over the course of his 30-year career, Michael Anderson has worked in the residential development industry in the Pacific Northwest, Northern California and Southern California. He has acquired residential land in excess of $300M for both land development and homebuilding entities and has overseen the construction of approximately 2500 homes. Currently, in semi-retirement, and based out of Newport Beach, CA, Michael continues to invest in and stay abreast of the land markets.

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