Home Sales are up in June!

Home Sales are up in June!

After two months of losses, home sales rebounded in June.

According to the California Association of Realtors, California home sales set a record high in June. 339,910 homes sold in June which is up 42.4 percent from May and down 12.8 percent from June 2019.

The median home priece was $626.170 up 6.5 percent from May and up 2.5 percentfrom June 2019. This is the highest price change ever recorded for a May-to-June change.

After plunging to the lowest level since the Great Recession, the housing market rebounded with the largest month-to month increase in 40 years.

C.A.R> President Jeanne Radsick said Friday, “Home sales bounced  back solidly in June after hitting a record bottom in May, as lockdown restrictions loosened and pent up demand driven by record low interest rates roared back.While the momentum is expected to be sustained as we kick off the third quarter, the resurgence in coronavirus cases remainsa concern and may hinder the market recovery>”

 

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