LOS ANGELES—Southern California home sales in June remained soft for the second consecutive month, as the 30-year fixed rate mortgage remained above 7 percent throughout most of May, when most of these sales opened escrow, the California Association of Realtors announced Wednesday.
June’s sales pace dipped 0.8 percent from the revised 272,410 homes sold in May and were down 2.7 percent from a year ago, when a revised 277,690 homes were sold on an annualized basis. The sales pace remained below the 300,000-threshold for the 21st consecutive month, and year-to-date home sales have fallen behind last year’s level by 0.5 percent through the first half of the year, according to CAR.
