Sacramento, CA — A recent report shows that home sales across the state fell last month.
Analysts say the decline can be attributed to higher prices and shrinking demand in the high-end market.
DataQuick Information Systems reports that 51,250 homes were sold in California last month, compared with 53,700 in October, and 53,250 a year ago.
The statewide median price for a home in California is also up about 15% from last year at $458,000.
Experts are expecting the downward trend to extend well into next year.
Contact Eric Nelson at Eric Nelson