California home sales and price gains temper in May as buyers confront housing affordability constraints and low inventory

LOS ANGELES – June 17, 2014 – (RealEstateRama) — California home sales eased slightly in May as a shortage of homes and housing affordability concerns held back would-be home buyers, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today.  Meanwhile, the median home price posted higher from both the previous month and year for the third consecutive month and remained at its highest level since December 2007