Despite being plagued with extremely low housing inventory, California still managed to post one of its busiest home sale months in years.
According to the latest report from the California Association of Realtors, existing home sales in California took off in June to their highest pace in nearly four years.
Closed escrow sales of existing, single-family detached homes in California came in at a seasonally adjusted annualized rate of 443,150 units in June. This is up 3.3% from the revised 428,890 level in May and up 2.4% compared with home sales in June 2016 of a revised 432,880. As a broader view, year-to-date sales are running 3.2% ahead of last year’s pac…