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SLO Home Sales Down 34 Percent

Tuesday, September 26, 2006

San Luis Obispo County home sales decreased 34 percent in August in California compared with the same period a year ago, while the median price of an existing home increased 6.4 percent to $602,850, the CALIFORNIA ASSOCIATION OF REALTORS (C.A.R.) reported today.

"We experienced the greatest year-to-year sales decline in California last month since August 1982, when sales fell 30.4 percent," said C.A.R. President Vince Malta. "This is another indication that we're in the initial stages of a long-anticipated adjustment in the market."

"Buyers today have a much greater selection of properties from which to choose, while some sellers are still clinging to price expectations that are no longer valid in today's market," he said.

Article: C.A.R. Reports Sales Decrease From Year Ago

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