“The California Association of Realtors (C.A.R.)”:http://www.car.org/ reported a 24.7-percent decrease in California’s home sales for the month of June as compared to the same period the previous year.

In June, the median price of a single-family detached home in California totaled $594,260 for the 364,280 dwellings, an increase of 3.2-percent over the prior year, which was estimated at $575,850 for the 483,690 existing homes.
“Well-maintained homes with curb appeal that are priced for today’s market continue to sell” said C.A.R. President Colleen Badagliacco. “It’s often a matter of counseling buyers and sellers to set realistic expectations on both sides of the transaction.”
According to C.A.R., housing figures for 2007 include:
C.A.R.‘s Unsold Inventory Index for existing, single-family detached homes in June was 10.1 months, compared with 6.1 months (revised) for the same period a year ago.
Thirty-year fixed-mortgage interest rates averaged 6.66-percent during June 2007, compared with 6.68-percent in June 2006, according to Freddie Mac.
The median number of days it took to sell a single-family home was 51.7 in June 2007 compared with 45.3 days (revised) for the same period a year ago.