February 2012 Pending Home Sales - California Pending Home Sales Climb from Previous Month and Year; Tight Inventory in Distressed Market Persists
By Devona Garrigus, REALTOR® / Short Sale Specialist
(Garrigus Real Estate)
Courtesy of the California Association of REALTORS ® February 2012 Pending Home Sales California Pending Home Sales Climb from Previous Month and Year; Tight Inventory in Distressed Market Persists LOS ANGELES (March 26) – Pending home sales in California gained ground for the second consecutive month in February, while the share of equity sales posted higher after two months of decline, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported today. Pending home sales: C.A.R.’s Pending Home Sales Index (PHSI)* rose from a revised 102.3 in January to 127.8 in February, based on signed contracts. The index also was up from the 111.8 index recorded in February 2011, marking the tenth consecutive month that pending sales were higher than the previous year. Pending home sales are fo...