California Home Sales Down 23.6% YoY in May, Median Prices Decline 6.4% YoY

California doesn’t report monthly inventory numbers, but they do report sales and the change in months of inventory.

Note: The National Association of Realtors (NAR) is scheduled to release May existing home sales tomorrow, Thursday, June 22, 2023, at 10:00 AM ET. The consensus is for 4.24 million SAAR.

Last Friday, housing economist Tom Lawler noted:

Bas…