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RealtyTrac: Annual Home Sales Decline Calif., Nevada

 
danielmoyle / Flickr
 

danielmoyle / Flickr

While year-over-year sales grew by 10 percent nationwide in December, sales in California fell by 15 percent. Nevada saw a nine percent decline.

Research firm RealtyTrac says Nevada also had the country's highest percentage of bank-owned home sales in December, as well as the highest percentage of "short sales" -- that's when a homeowner sells their property for less than full value.

In the Sacramento area, annual home sales declined by 13 percent in December.

Despite a drop in sales, home prices in the Sacramento area were up. The median sales price was $260,000 in December, a nearly 30 percent increase from December of 2012.

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Steve Milne

Morning Edition Anchor & Reporter

Steve is the voice of Capital Public Radio News as anchor of Morning Edition and Insight. He covers stories on a wide range of topics including: business, education, real estate, agriculture and music. Steve also produced stories for CapRadio.org.   Read Full Bio