California Pending Home Sales Rise on Annual Basis, Post Double-Digit Year-Over-Year Gains in Last Nine of 10 Months

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Pending home sales in California were flat from April but posted double-digit gains from the previous year for the fourth straight month, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported today. Additionally, the share of distressed sales continued to decline from year-ago levels, signaling a return of non-investors to the housing market. Pending home sales: C.A.R.’s Pending Home Sales Index (PHSI)* was unchanged in May from a revised 128.8 in April, based o
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