Monthly sales of new and existing homes in California continued to follow the traditional spring selling pattern, increasing by over nine percent from the previous month, while home prices showed solid gains for a third consecutive month according to real estate information provider DataQuick.
An estimated total of 41,790 new and existing homes and condos were sold in the Golden State in May. That was 9.3 percent higher than the 38,241 homes sold in April and 17.6 percent higher than the 35,536 homes sold in May 2011.
Home sales in the state typically increase about six percent between April and May. Despite being 10.4 percent below the historical average of 46,638 sales for the month, it was still the best showing for the month since 2006.
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