Home sales decreased 9.6 percent in February in California compared with the same period a year ago, but prices continued to climb and new evidence emerged that the worst of the slump may possibly be in the past, according to a report issued today by the California Association of Realtors. Median prices increased 5.7 percent, the trade organization said.
â€œSales in February were at their highest level in eight months, posting their smallest year-to-year decline in 14 months,â€? said CAR president Colleen Badagliacco.
â€œNext month's report could tell a different story since sales last year peaked in March. Looking forward, we are likely to see smaller year-to-year declines as we enter the traditional buying season. Homes that are well maintained and are priced to reflect the realities of today's market will continue to sell.â€?