Closed escrow sales of existing, single-family detached homes in California totaled 620,410 in February at a seasonally adjusted annualized rate, according to information collected by C.A.R. from more than 90 local REALTOR® associations statewide. Statewide home resale activity increased 83 percent from the revised 338,970 sales pace recorded in February 2008. Sales in February 2009 decreased 0.8 percent compared with the previous month.

The median price of an existing, single-family detached home in California during February 2009 was $247,590, a 40.8 percent decrease from the revised $418,260 median for February 2008, C.A.R. reported. The February 2009 median price fell 2.3 percent compared with January’s revised $253,330 median price.

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