House sells in California

[caligirl]

I found this article that I found interesting on http://www.carealestatejournal.com/

It is about how house sells are dropping.

ANALYSIS
Home Sales Fell, Median Price Ticked Up in December

LOS ANGELES - Home sales decreased 15.3 percent in December in California compared with the same period a year ago, while the median price of an existing home increased 3.7 percent, the California Association of Realtors reported.
"The market continues to level out as buyers and sellers search for common ground in today's more balanced environment," said C.A.R. President Colleen Badagliacco. "The number of homes for sale peaked in June and July and has since edged downward. Although time on the market remains higher than it was a year ago, compe***ively priced homes continue to sell well."
The median price of an existing, single-family detached home in California during December 2006 was $567,690, a 3.7 percent increase over the revised $547,400 median for December 2005, C.A.R. reported. The December 2006 median price increased 2.2 percent compared with November's revised $555,280 median price.
"Year-over-year sales declined in most regions last month, albeit at a lesser pace then what we experienced earlier this year," said C.A.R. Vice President and Chief Economist Leslie Appleton-Young. "The price picture across the state continues to be mixed. Increases were strongest in urban areas that experienced relatively less new-home building or strong economic growth in recent years. Prices were weakest where there has been robust home-building activity or in those areas of the state that were popular with second-home buyers."