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The numbers

  • Median price: $818,260 in May, up 39.1% from a year ago.
  • Homes sold: 445,660 homes in May, up 86.7% from a year ago.
  • Days on the market: 7 days in May, down from 17 days a year ago.
  • Mortgage rates: 2.93% for a 30-year loan, down from 2.96% a week ago. Last year, the rate was 3.13%. (Source: Freddie Mac)

‘We’re seeing many would-be buyers taking a break’ Estimated reading time: 3 minutes California’s red-hot housing market could be cooling off, or at least getting lukewarm. May home sales dipped 2.7% compared to April — but were up 87% from a year ago, though the figure is greatly skewed by the Covid-prompted lockdown that halted…

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