Pending home sales across California jumped in March to record three straight month-to-month and year-to-year increases, indicating a strong spring home-buying season lies ahead, the California Association of Realtors reported Wednesday.
The Realtors said pending home sales in Southern California, the San Francisco Bay Area and the Central Valley posted back-to-back, double-digit monthly gains compared to February.
Pending home sales in Southern California rose 16.7 percent from February to March, and were 15 percent higher than in March 2014.
Meanwhile distressed property sales continue to fall, dropping to 9 percent of all sales in March from 12.5 percent a year ago.
The Realtors said they are seeing slightly more multiple offers than the previous month and an increase in floor calls, listing appointments, and open house traffic.
