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 August 28, 2008

California Home Sales Increase Four Months in a Row
For the fourth consecutive month, home sales rose for California real estate. Home prices were down almost half of what they were a year ago, which has been the impetus for nearly 500,000 closed escrows last month.
The resurgence in home sales has taken California's home inventory being sold - down to almost 7 months from what it was a year ago at 10 months. This is the estimated time that it would take to sell off all the houses at the pace of today's real estate market.

However, although home sales have risen, they are still down more than 10% from what they were a year ago, but it is showing signs of improvement.