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What you should know …
California pending home sales increased more than usual and rose to the highest level in eight months, according to the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.). Overall, pending home sales climbed 17.8 percent in March, with the Pending Home Sales Index (PHSI) rising from 97.1 in February to 114.4 in March, based on signed contracts.
In addition, the share of short sales has fallen to levels last observed in 2008.
The share of equity sales – or non-distressed property sales – has been increasing steadily over the past year. The share of equity sales increased to 87.6 percent in March, up from 85 percent in February.
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