Pending home sales continued to decline in December, indicating a slow start for 2014 California housing market, C.A.R. reports

LOS ANGELES, CA – January 24, 2014 – (RealEstateRama) — A perfect storm of a shortage of available homes for sale, rising interest rates, and higher home prices kept prospective home buyers on the sidelines in December, pushing California pending home sales lower for the second straight month. Meanwhile, equity sales continue to make up more than four of every five home sales