Despite inventory shortage, existing home sales surge in California

For two years now, California has dealt with extremely low housing inventory, and it doesn’t look like it’s getting better any time soon. According to the latest report from the California Association of Realtors, existing home sales in California took off in June to their highest pace in nearly four years. But the increase in sales, coupled with the double-digit decline in active listings, now means June’s available housing supply is even lower.

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