California Home Resales Increase in First Quarter
According to a National Association of Realtors (NAR) report released Wednesday, California posted a 6.4% increase in home resales during the first quarter of 1997. That growth stands in stark contrast to the slower than expected 1.8% rate of growth in the West and the 1.4% national average growth. The California growth is particularly surprising considering that California was buffeted by unusually heavy snows early in the year and prolonged rain and flooding.
NAR reports can also be accessed on their web page at http://www.realtor.com. Additional information is available from the California Association of Realtors at http://www.car.org.

Volume 4, Bulletin 16 -- May 8, 1997