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percent in May. The numbers compare to figureds from Aprilof 2009. The median price of homesw sold in the Sacramento regionwas $180,9409 in May compared to $166,284 in The figures still are much lower -- 22.4 percengt lower -- compared to May of last Sales locally also picked up 1.5 percent over April and were 4.8 more than May of 2008. Nine Californiaw cities individually posted price gains duringthe month, CAR said Thursday. A separate CAR report also showed that the inventoryfor single-family homee in the state has shrunik dramatically in the past year, but homes nonethelessw are taking longer to sell.
CAR’s Unsolxd Inventory Index for existing, single-family detached homex in May was 4.2 months, compared with 8.7 months for the same period ayear ago. The inde x indicates the number of months neederd to deplete the supply of homess on the market at the currentsales rate. The mediaj number of days it took to sella single-familyu home was 53.5 days in May, compared with 49.2 days for the same perioed a year ago. The report showed that the numbere of sales increased statewide in Mayby 35.2 percentt to a seasonally adjusted rate of 556,590p on an annualized basis while the median price of an existing, single-family detached home droppesd 30.4 percent to $267,570.
The price in May was up 4.2 percentf from April’s median.
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