39,700 new and resale home transactions closed escrow in California during December 2015. In step with the annual sales cycle, the push to close home sales before year’s end gave sales volume a boost in December. December’s home sales volume was 10% higher than a year earlier.
2015 ended with 450,700 home sales in California. This is 35,400, or 9%, more sales than took place in 2014. This is just above 2013 sales volume. For perspective, the number of homes sold in 2015 is still 303,203, or 40%, below peak sales volume experienced in 2005.
Sales volume is likely to pick up in the first half of 2016 as job numbers continue to grow, to fall back in the months following the inevitable fixed rate mortgage (FRM) rate increase, likely around mid-2016.
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