Equity home sales near 90 percent of all home sales, while pending home sales decline in May

LOS ANGELES – June 24, 2014 – (RealEstateRama) — Higher home values continued to fuel more equity home sales, which have made up more than 80 percent of all home sales for the past 11 consecutive months.  Meanwhile, pending home sales fell in May as investors pulled out of the market due to higher home prices, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today.