California pending home sales lower in December; distressed sales rise as lenders push through more REOs, short sales, C.A.R. reports

LOS ANGELES, CA – January 25, 2012 – (RealEstateRama) — The CALIFORNIA ASSOCIATION OF REALTORS®’ (C.A.R.) Pending Home Sales Index dropped as expected between November and December, tracking the annual seasonal slowdown. However, the index was hig…