California Association of Realtors (CAR) reported that in spite of a 15% increase in median price for existing homes, the state's housing supply continues to decrease. The companies unsold inventory index, which represents the number of months needed to off load the supply of existing, single-family homes on the market at the current sales rate, dropped to 5.8 months in January, a decline from 7.3 months during the same month last year. » Read More