LOS ANGELES, CA – January 24, 2013 – (RealEstateRama) — Seasonal factors, combined with low housing inventory, particularly a lack of real estate-owned homes (REOs), drove California pending home sales lower in December, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported today. However, the share of distressed properties increased in December, as lenders pushed to close short sales and move them off their balance sheets.
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