March Update

March 25, 2009
Quick Facts:
· Existing, single-family home sales increased 83 percent in February to a seasonally adjusted rate of 620,410 on an annualized basis
· The statewide median price of an existing single-family home decreased 40.8 percent
in February to $247,590
· C.A.R.’s Unsold Inventory Index fell to 6.5 months in February, compared with 15.3 months in February 2008
· The median number of days it took to sell a single-family home declined to 51.5 days in February 2009, compared with 69.3 days in February 2008