California home sales slowed in March as median home prices continued to climb [Video]

SAN DIEGO (FOX 5/KUSI) — The spring home-buying season got off to a slow start as the California Association of Realtors reported a drop in the Golden State’s home sales last month.

In a report released Wednesday, CAR said the seasonally adjusted annualized rate for sales of existing single-family homes in California was 267,470 in March. That’s according to data collected from more than 90 local realtor associations and multiple listing services (MLSs) across the state.

March saw a nearly eight percent decrease in home sales from the month before and just over four percent from the same time a year ago.

Meanwhile, the statewide median home sales price climbed to $854,490 last month, CAR said. That’s an increase of about six percent from February’s median price of $806,490.

The report said home sales in the Central Valley dropped about 10 percent from a year ago, experiencing the biggest decline in California. It was …