Tight Housing Inventory, Slower Economy Constrain California Pending Home Sales in June, C.A.R. Reports

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A continued lack of housing inventory and slowing economy sent California pending home sales lower in June, but pending sales were still higher than the previous year for the fourteenth straight month, the CALIFORNIA ASSOCIATION OF REALTORS (C.A.R.) reported today. Pending home sales data: C.A.R.'s Pending Home Sales Index (PHSI)* fell 3.8 percent from a revised 126.1 in May to 121.4 in June, based on signed contracts.
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