California’s Share of Real Estate Equity Sales Up Sharply, Distressed Sales Down

Pending home sales are forward-looking indicators of future home sales activity that offer solid information on future changes in the direction of the market. May’s Pending and Distressed Home Sales report showed that the share of equity sales in May increased to 78.2%, up from 75.6% in April. Equity sales made up more than half (55.8%) of all sales in May 2012.