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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