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ByJoshBoak The Associated Press WASHINGTON MoreAmer- icans purchased homes in December, yet total sales slipped in 2014 as first- time buyers struggled to find houses. The National Association of Realtors said Friday that sales of existing homes rose 2.4 percent last month to a seasonally adjusted annual rate of 5.04 million. But over the course of the en- tire year, sales fell 3.1 per- cent to 4.93 million. Only 29 percent of sales went to first-time buyers last month, compared to a historic average of 40 per- cent. Prospective buyers were priced out of the mar- ket due to rising home val- ues and relatively stagnant incomes. Still, affordabil- ity has improved in recent months as mortgage rates have plunged, leading to the possibility of stronger sales in 2015. "Sales will increase throughout 2015 as poten- tial buyers feel more com- fortable about the eco- nomic outlook and lenders are willing to make loans," said Stuart Hoffman, chief economist at PNC Financial Services. Median home prices in- creased 6 percent over the past 12 months to $209,500. There were relatively few listings in December, as the supply of homes on the mar- ket dropped to 4.4 months from 5.1 months in Novem- ber, the Realtors said. The supply was the lowest in two years. Much of the gains in sales came from the West, with additional growth in the South. Sales slumped in the Northeast and Midwest. Home-buying appears poised to improve, however. "There are good support- ing factors behind the hous- ing market," said Jennifer Lee, a senior economist at BMO Capital Markets. Strong job growth over the previous year has added nearly 3 million new pay- checks to the economy. Mortgage rates have fallen sharply, and home values are rising at a slower clip, giving prospective buyers some financial leeway. The Realtors expect sales will rise 8 percent this year to 5.3 million homes. Much of that growth will hinge on first-time buyers getting out of the rental market. Jed Kolko, chief econo- mist at Trulia, predicts that much of the growth will oc- cur in the suburbs. For starters, the suburbs are more affordable, with prices rising 5.7 percent per square foot last year, compared to an 8.1 per- cent surge in urban neigh- borhoods. Secondly, ur- ban populations have risen in recent years because of what Kolko calls a "demo- graphic jolt" from twenty- somethings renting close to downtown, a pattern that will soon reverse itself. "As millennials get older, many will follow a familiar path: They'll partner up, have kids, and move to the suburbs," Kolko said in a re- port released this week. Analysts expect the re- silient U.S. economy to pro- vide a tail wind this year, too. Employers added an average of 246,000 jobs a month last year as the un- employment rate dropped from 6.7 percent to 5.6 per- cent. While average hourly wages grew only slightly faster than inflation, the additional number of pay- checks coupled by younger workers who are starting to move up the career ladder should put more first-time buyers in a better position. REAL ESTATE US home sales rise in December, but total slipped in 2014 MARCIOJOSESANCHEZ—THEASSOCIATEDPRESS Real estate agent Sam Golkar, le , tours a home being sold by fellow agent Frank Ruan, right, in Cupertino. GetResults! Put your ad in Tehama Country Real Estate ONLINEADVERTISING INCLUDED. Corning Adult & Family Park 1BD/1BA 2 BD/1 BA From $9,900 OWC SpaceRent$350-$360amonth (530) 824-1500 WESTERN REAL ESTATE MINCH PROPERTY MANAGEMENT 760MainSt.•530-527-5514 Commercial Properties For Sale: • 13545 Saint Marys Ave. (Orlease)................................................................40,000sq/ft • 728 Rio St. 1/4 Acre Parcel (Raredowntownriverfrontlot) Now Reduced $89,500 • 22660 Antelope Blvd........................................................ From 5,600 to 18,240 sq/ft • 519 Jefferson St. (vacantcommerciallot)......................................................9,775sq/ft Commercial Properties For Lease: • 230 S. Main St.(FormerInsuranceOffice)............................................................1,150 sq/ft • 836 Washington Street #A (FormerCardShop).................................................500 sq/ft • 750 Main Street (Retail/Professional).....................................................................1,825 sq/ft • 731-741 Main Street (Upstairs)............................................................various size suites • 955 Main Street (SuiteinsideBankofAmericabuilding)................................2,995 sq/ft • 345 Pine Street (Professional/Office)...................................................................... 1,100 sq/ft • 22660 Antelope Blvd......................................................... From 5,600 to 18,240 sq/ft South Main Street strip center several suites available RE/MAX American Dream 1704 Solano St. Corning, CA. 96021 (530) 824-8100 Serving all of Serving all of T ehama County, Tehama County, N orthern Northern G lenn County Glenn County & Southern Shasta & Southern Shasta Scott Soder Territory Manager (530)727-7572 cell (530)727-6114 office SpecializinginRanches,Hunting,andRecreationalproperties www.californiaoutdoorproperties.com BRE#00984623 South Fork Ranch $680,000 Two legal parcels in the Evergreen School District, off of Eighmy Road in Cottonwood, total 87.83+/- acres. The property includes a 1,022 sq.ft. 3 bedroom, 1 bath home in good condition. Approximately 90% of the land is either Class I, Class II, or Class III soil; great for agriculture. Owner is willing to sell parcels individually–the home and 43+/- acres at $385,000, or 43+/- acres of land at $295,000. Nearly ten fenced acres 5 minutes north of Red Bluff with beautiful manufactured home, 3 bedroom, 2 bath, fresh paint, new carpet and flooring, above ground pool with extensive redwood decking, and lush, treed yard with automatic sprinklers. Everything you need to begin making family memories for years to come! For more information, call Cynthia Allen (Broker 01485618) Culp Diversified Properties at 530-949-4931 15685 Old Mission Drive, Red Bluff Asking$225,000 3-plus acres in area of nice homes just minutes north of Red Bluff...build your new home and enjoy all that the country life can offer! 14380 Molluc Drive. Asking $75,000 Richfield Asking $106,000 9.6 acres bare ground, good soil, walking distance to school, owner may carry. Call Mary Posey (530) 227-9884 Lic#00937231 3 bd, 2 ba, nice 26 acres with built to last 2005 manufactured home. Large 30 x 40 shop, water tanks. Fully fenced. REDBLUFF PROPERTIES (530)529-5900 $273,000 Tehama Country Real Estate This Week Call Suzy Noble @ (530) 737-5056 or snoble@redbluffdailynews.com to place your ad CLASSIC COUNTRY CHARMER on 9+ fenced/crossed fenced acres, two story 24x36 barn w/office & full bath, outbuilding, home boasts 3 bdrms/2baths, a beautiful brick fireplace, updated tile flooring, 2 car garage, refrigerated panty and peaceful setting making this a must see! Motivated seller asking $275,000. RE/MAX Five Star Monica Micheletti, Realtor DRE LIC # 01089659 530-949-2611 2405 Hilltop Drive Redding, CA 96002 OPEN SATURDAY 11am-2pm • 11630 Paskenta Rd, Red Bluff http://redbluff.stromerrealty.com ~ Specializing in residential to ranches ~ 590 Antelope Blvd. Bldg. A, Suites 10 & 20, Red Bluff (530) 527-3100 Stromer Realty Pat Laughlin, Broker #01050665 40 Jacktom Road, Manton 15.37 Acres Located in the wine growing region of Manton Valley, endless potential with beautiful views of Mt. Lassen. Power nearby. Would make a wonderful place to build your dream home or a possible viticulture site! Asking $50,000. Call Tara for more information! 000 Red Bank Rd., Red Bluff 49 Acres For the person who desires privacy and solitude! Rural "get away" property with great views, fantastic sunsets, cattle grazing, two legal parcels & some wildlife habitat. Approximately 40 minutes from downtown Red Bluff. Asking $149,000. Call and ask for Ben or Tom. | NEWS | REDBLUFFDAILYNEWS.COM SATURDAY, JANUARY 24, 2015 6 B