She said the total share of all distressed property types sold statewide declined in April to 48%, down from 51% in March and down from 49% in April 2010.
Non-distressed sales made up the remaining share at 52% in April, up from 49% in March and up from 51% in April 2010.
Of the distressed properties sold statewide, the total share of REO (real estate-owned) sales was 28% in April, down from 31% in March, and down from 30% in April 2010.
The statewide share of short sales also dropped in April to 19%, down from 20% in March but unchanged from 19% in April 2010.
April pending home sales in California declined from March, according to CAR's Pending Home Sales Index (PHSI). The index was 114.3 in April, down 11% from March's revised index of 128.4, based on contracts signed in April.
The index was down 19.2% from April 2010, when the presence of housing tax credits played a strong role in home sales. Pending home sales are forward-looking indicators of future home sales activity, providing information on the future direction of the market.
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