California home sales were up 26.5% in March according to Data Quick news. Although a jump in sales from Feb to March is normal for the season, last month sales were the strongest since 2007!
Distressed sales (foreclosures and short sales) continue to make up more than half of California resale market. Of these 32.5 were foreclosed properties and this was the lowest since Jan 2008. The all time high for foreclosures was February 2009 with 58.5%.