California

Housing Market
Update
Monthly Sales and
Price Statistics
May 2022
California Housing Market Snapshot

May 2022

377,790 Existing Home Sales

-15.2% YTY -8.9% YTD % change

Unsold Median Days

Price Inventory Index on Market

$898,980 2.1 months 9 days

+9.9% Y2Y +16.7% Y2Y +28.6% Y2Y

CALIFORNIA ASSOCIATION OF REALTORS®

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02
May 2022 Southern California Housing Snapshot

-14.3% YTY Existing Home Sales

-11.8% YTD % change

$841,920 Existing Home Price

+11.9% YTY % change

Unsold Median Days Sales Price to

Inventory Index on Market List Price Ratio

2.2 months 9 days 103.4%

CALIFORNIA ASSOCIATION OF REALTORS®

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May 2022 Central Coast Housing Snapshot

-21.8% YTY Existing Home Sales

-20.2% YTD % change

$995,000 Existing Home Price

+10.6% YTY % change

Unsold Median Days Sales Price to

Inventory Index on Market List Price Ratio

2.3 months 8 days 102.3%

CALIFORNIA ASSOCIATION OF REALTORS®

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May 2022 Central Valley Housing Snapshot

-12.2% YTY Existing Home Sales

-4.0% YTD % change

$500,000 Existing Home Price

+12.4% YTY % change

Unsold Median Days Sales Price to

Inventory Index on Market List Price Ratio

2.1 months 7 days 102.3%

CALIFORNIA ASSOCIATION OF REALTORS®

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May 2022 Bay Area Housing Snapshot

-11.5% YTY Existing Home Sales

-13.2% YTD % change

$1,505,000 Existing Home Price

+12.3% YTY % change

Unsold Median Days Sales Price to

Inventory Index on Market List Price Ratio

1.7 months 9 days 109.3%

CALIFORNIA ASSOCIATION OF REALTORS®

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May 2022 Far North Housing Snapshot

-4.0% YTY Existing Home Sales

-5.8% YTD % change

$425,000 Existing Home Price

+16.4% YTY % change

Unsold Median Days Sales Price to

Inventory Index on Market List Price Ratio

2.9 months 10.5 days 100.0%

CALIFORNIA ASSOCIATION OF REALTORS®

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7
Sales
 Sales dipped to lowest in nearly two years

California, May 2022 Sales: 377,790 Units, -8.9% YTD, -15.2% YTY, -9.8% MTM
700,000
600,000
500,000
400,000
300,000
200,000
100,000
-
May-06

May-08

May-10

May-12

May-14

May-16

May-18

May-20

May-22
Jan-05

Jan-07

Jan-09

Jan-11

Jan-13

Jan-15

Jan-17

Jan-19

Jan-21
Sep-05

Sep-07

Sep-09

Sep-11

Sep-13

Sep-15

Sep-17

Sep-19

Sep-21
SERIES: Sales of Existing Single Family Homes page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
9
 Sales had the biggest drop this year

100%
80% Year-over-Year % Chg 6 per. Mov. Avg. (Year-over-Year % Chg)
60%
40%
20%
0%
-20% -15.2%
-40%
-60%

SERIES: Sales of Existing Single Family Homes page

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
10
 YoY % chg.

20%
40%
60%
80%

-60%
-40%
-20%
100%
120%

0%
Jan-10
May-10
Sep-10
Jan-11
May-11
Sep-11
Jan-12
May-12
Sep-12
Jan-13
May-13
Sep-13
Jan-14
Bay Area

May-14
below last year’s level

Sep-14
Jan-15
May-15
Sep-15
Jan-16
May-16
Sep-16
Jan-17
May-17
Sep-17
Jan-18
May-18
Sep-18
6 per. Mov. Avg. (Bay Area)

Jan-19
May-19
Sep-19
Jan-20
May-20
Bay Area sales had a bounce back, but remain

Sep-20
Jan-21
May-21
Sep-21
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
SERIES: Sales of Existing Single Family Homes

Jan-22
May-22
11
-11.5%

page
 YoY % chg.

20%
40%
60%
80%

-60%
-40%
-20%
100%

0%
Jan-10
May-10
Sep-10
Jan-11
May-11
Sep-11
year’s level

Jan-12
May-12
Sep-12
Jan-13
May-13
Sep-13
Jan-14
So CA

May-14
Sep-14
Jan-15
May-15
Sep-15
Jan-16
May-16
Sep-16
Jan-17
May-17
Sep-17
Jan-18
May-18
Sep-18
6 per. Mov. Avg. (So CA)

Jan-19
May-19
Sep-19
Jan-20
May-20
Sep-20
Jan-21
So. California sales bounced back but remain last

May-21
Sep-21
Jan-22
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
SERIES: Sales of Existing Single Family Homes

May-22
-14.3%

12
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 Central Valley sales had largest annual drop since
start of the pandemic
50% Central Valley 6 per. Mov. Avg. (Central Valley)
40%
30%
20%
YoY % chg.

10%
0%
-10%
-20% -12.2%
-30%
-40%
-50%
May-10

May-11

May-12

May-13

May-14

May-15

May-16

May-17

May-18

May-19

May-20

May-21

May-22
Jan-10

Jan-11

Jan-12

Jan-13

Jan-14

Jan-15

Jan-16

Jan-17

Jan-18

Jan-19

Jan-20

Jan-21

Jan-22
Sep-10

Sep-11

Sep-12

Sep-13

Sep-14

Sep-15

Sep-16

Sep-17

Sep-18

Sep-19

Sep-20

Sep-21
SERIES: Sales of Existing Single Family Homes page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
13
 Sales by Region
May 2022 May 2022 Home Sales Growth
Other Home Sales by Region by Region
Counties 0%
6% Far North
-5% -4.0%
Central 3%
Coast -10% -6.3%
3% Central -15% -12.2%-11.5%
Valley -14.3%
21% -20%
-25% -21.8%

S.F. Bay
Southern Area
California 21%
46%

CALIFORNIA ASSOCIATION OF REALTORS®

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 Upper priced segments moderated in recent months

May 2022 Share by Price Segment

(YTY% Chg.)
20% 22%
10% $0 - $499k
28%
0%
-3%
-20% -8%
-16% -14%
43%
-40% $500 - $999k
-36% 42%
-60% -49%

35%
2022
$1M+ 2021
30%

SERIES: Sales of Existing Detached Homes page

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
15
 Sales growth tapering in all price points

$0 - $299k $300 - $399k $400 - $499k $500 - $749k

350% $750 - $999k $1,000 - $1,999k $2,000k+
YTY % Chg. in Sales

300%
250%
200%
150%
100%
50%
0%
-50%
-100%
Dec-18

Dec-19

Dec-20

Dec-21
Oct-19

Oct-20

Oct-21
Apr-19
Jun-19

Apr-20
Jun-20

Apr-21
Jun-21

Apr-22
Feb-19

Aug-19

Feb-20

Aug-20

Feb-21

Aug-21

Feb-22
SERIES: Percent Change in Sales page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
16
Share of million-dollar home sales reached the
highest level of all time
Share Gap $0-$499k $1,000k and up
60%
50%
40% 35.3%
% of Sales

30%
20% 22.0%
10%
0%
-1.9%
-10%
COVID-19
-20% Outbreak

SERIES: Sales by Price Range page

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
17
 Pending sales had the worst decline since the
pandemic shut down

100%
YTY % Chg. in Pending Sales

80%
60%
40%
20%
0%
-20%
-40% -30.6%
-60%
Jan-17

Jul-17
Oct-17
Jan-18

Jul-18
Oct-18
Jan-19

Jul-19
Oct-19
Jan-20

Jul-20
Oct-20
Jan-21

Jul-21
Oct-21
Jan-22
Apr-17

Apr-18

Apr-19

Apr-20

Apr-21

Apr-22
SERIES: Percent Change in Pending Sales page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
18
 Pending sales shrunk from last year at all price
segments for the first time in two years
$0 - $299k $300 - $399k $400 - $499k $500 - $749k $750 - $999k $1,000 - $1,999k $2,000k+

500%
YTY % Chg. in Pending Sales

400%

300%

200%

100%

0%

-100%

SERIES: Percent Change in Pending Sales page

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
19
 Pending sales declined from last month for all
price segment
$0 - $299k $300 - $399k $400 - $499k $500 - $749k
60% $750 - $999k $1,000 - $1,999k $2,000k+
MTM % Chg. in pending Sales

40%

20%

0%

-20%

-40%

-60%

SERIES: Percent Change in Pending Sales page

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
20
 Pending sales – Condo slowed slightly faster
than Single-Family Homes

SFH Condo/Townhome
250%
YTY % Chg. in Pending Sales

200%
150%
100%
50%
0%
-50%
-100%
Mar-18
May-18

Mar-19
May-19

Mar-20
May-20

Mar-21
May-21

Mar-22
May-22
Jan-18

Jul-18

Jan-19

Jul-19

Jan-20

Jul-20

Jan-21

Jul-21

Jan-22
Sep-18
Nov-18

Sep-19
Nov-19

Sep-20
Nov-20

Sep-21
Nov-21
SERIES: Percent Change in Pending Sales page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
21
Price
 California median home price set a new
record for the third month in a row
California, May 2022: $898,980, +1.6% MTM, +9.9% YTY

$1,000,000
$900,000
$800,000
$700,000
$600,000
$500,000
$400,000
$300,000
$200,000
$100,000
$-
May-06

May-08

May-10

May-12

May-14

May-16

May-18

May-20

May-22
Jan-05

Jan-07

Jan-09

Jan-11

Jan-13

Jan-15

Jan-17

Jan-19

Jan-21
Sep-05

Sep-07

Sep-09

Sep-11

Sep-13

Sep-15

Sep-17

Sep-19

Sep-21
SERIES: Median Price of Existing Single Family Homes page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
23
 Condo/Townhome median price

California, May 2021: $592,000, May 2022: $678,000

$800,000
$700,000
$600,000
Median Price

$500,000
$400,000
$300,000
$200,000
$100,000
$0
May-06

May-08

May-10

May-12

May-14

May-16

May-18

May-20

May-22
Jan-05

Jan-07

Jan-09

Jan-11

Jan-13

Jan-15

Jan-17

Jan-19

Jan-21
Sep-05

Sep-07

Sep-09

Sep-11

Sep-13

Sep-15

Sep-17

Sep-19

Sep-21
SERIES: Median Price of Existing Condos/Townhomes page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
24
 Median price growth - condos continued to outpace
single-family homes
50% Condo Single-Family Homes
40%
30%
20%
YTY% Chg. in Price

10%
0%
-10%
-20%
-30%
-40%
-50%
May-06

May-08

May-10

May-12

May-14

May-16

May-18

May-20

May-22
Jan-05

Jan-07

Jan-09

Jan-11

Jan-13

Jan-15

Jan-17

Jan-19

Jan-21
Sep-05

Sep-07

Sep-09

Sep-11

Sep-13

Sep-15

Sep-17

Sep-19

Sep-21
SERIES: Median Price of Existing SFH & Condo/Townhomes page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
25
 Price/Square foot continues to set new record high
May 2022: $436, +0.7% MTM, +12.7% YTY
$500
$450
$400
PRICE PER SQ. FT.

$350
$300
$250
$200
$150
$100
$50
$0
Jan-07
Jul-07
Jan-08
Jul-08
Jan-09
Jul-09
Jan-10
Jul-10
Jan-11
Jul-11
Jan-12
Jul-12
Jan-13
Jul-13
Jan-14
Jul-14
Jan-15
Jul-15
Jan-16
Jul-16
Jan-17
Jul-17
Jan-18
Jul-18
Jan-19
Jul-19
Jan-20
Jul-20
Jan-21
Jul-21
Jan-22
SERIES: Median Price Per Square Feet of Existing Single Family Homes page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
26
 The Price/Square foot gap between home types dropped
slightly but continues to remain near record level

Diff. in Price/Sq. Ft. SFH Condo/Townhome

$700
PRICE PER SQ. FT.

$600 $584
$500
$436
$400
$300
$200
$100
$0
Jan-07
Jul-07
Jan-08
Jul-08
Jan-09
Jul-09
Jan-10
Jul-10
Jan-11
Jul-11
Jan-12
Jul-12
Jan-13
Jul-13
Jan-14
Jul-14
Jan-15
Jul-15
Jan-16
Jul-16
Jan-17
Jul-17
Jan-18
Jul-18
Jan-19
Jul-19
Jan-20
Jul-20
Jan-21
Jul-21
Jan-22
SERIES: Median Price Per Square Feet of Existing Single Family Homes
and Condo/Townhomes
page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS® 27
 Sales price-to-list price ratio easing as market
becomes less competitive
May 2022: 103.4%, -0.8% MTM, -0.5% YTY
106%
Sales-to-List Price Ratio

104%
102%
100%
98%
96%
94%
92%
90%
Jan-07
Jul-07
Jan-08
Jul-08
Jan-09
Jul-09
Jan-10
Jul-10
Jan-11
Jul-11
Jan-12
Jul-12
Jan-13
Jul-13
Jan-14
Jul-14
Jan-15
Jul-15
Jan-16
Jul-16
Jan-17
Jul-17
Jan-18
Jul-18
Jan-19
Jul-19
Jan-20
Jul-20
Jan-21
Jul-21
Jan-22
SERIES: Sales to List Ratio of Existing Single Family Homes page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
28
 Share of homes sold above asking price dipped from
last month and same month of last year
80% 72.8%
70.7%
% of sales with price above

70% 69.6%
60%
asking price

50%
40%
30%
20%
10%
0%
Jul-17
Oct-17

Jul-18
Oct-18

Jul-19
Oct-19

Jul-20
Oct-20

Jul-21
Oct-21
Jan-17

Jan-18

Jan-19

Jan-20

Jan-21

Jan-22
Apr-17

Apr-18

Apr-19

Apr-20

Apr-21

Apr-22
SERIES: Sales with sold price above asking price (Existing SFH) page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
29
 Homes sold above asking price - by county

May 2022: % sold above asking price (37/50 Counties at or above 50%)
100%
90%
90%
80%
70%
60%
50%
50%
40%
30%
19%
20%
10%
0%

SERIES: % of homes sold above asking price page

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
30
 List price vs. sales price

60%
Listing Price Sales Price
50%
40%
YTY% Chg. in Price

30%
20%
10% 8.84%
0%
-4.00%
-10%
-20%
Dec-14
May-15

Mar-16

Dec-19
May-20

Mar-21
Jan-12

Jul-14

Oct-15

Jan-17

Jul-19

Oct-20

Jan-22
Jun-12
Nov-12
Apr-13

Jun-17
Sep-13

Nov-17
Feb-14

Apr-18
Aug-16

Sep-18
Feb-19

Aug-21
SERIES: List price growth and sales price growth page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
31
Prices continued to grow solidly for all percentiles

Year-over-Year Price Growth

16%
14.1%
14% 13.2%
12.0% 11.8% 11.5%
12%
10% 9.4% 9.4%
8.1%
8%
6.0%
6%
4%
2%
0%
0-20 20-40 40-60 60-80 80-100 80-85 86-90 91-95 96-100
Percentile

SERIES: Median Price of Existing Single Family Homes page

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
32
 YTY% Chg. in Price

10%
20%
30%
40%
50%
60%

-10%
0%
Jan-18
Mar-18
May-18
Jul-18
Sep-18
Nov-18
Jan-19
0-20

Mar-19
May-19
Jul-19
20-40

Sep-19
Nov-19
40-60

Jan-20
Mar-20
May-20
60-80
Price growth solid at all percentiles

Jul-20
Sep-20
Nov-20
80-100

Jan-21
Mar-21
May-21
Jul-21
Sep-21
Nov-21
Jan-22
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
SERIES: Percent Change in Price

Mar-22
May-22
33
page
 Market Velocity

50%

-50%
100%
150%
200%
250%

-150%
-100%
0%
Dec-08
Apr-09
Aug-09
Dec-09
Apr-10
Aug-10
Dec-10
Apr-11
Price Growth

Aug-11
Dec-11
Apr-12
Aug-12
Dec-12
Apr-13
Aug-13
Dec-13
Apr-14
Aug-14
Dec-14
Apr-15
Aug-15
Dec-15
Apr-16
Aug-16
Dec-16
Apr-17
Aug-17
Dec-17
Apr-18
Aug-18
Dec-18
Apr-19
Aug-19
Market Velocity (12 month trailing average)

Dec-19
California Market Velocity and Price Growth

Apr-20
Aug-20
Dec-20
Apr-21
Aug-21
Dec-21
Apr-22
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
SERIES: Market Velocity & Price Growth
0%
10%
20%
30%
40%
50%

-50%
-40%
-30%
-20%
-10%

34

Existing SFR Median Price

Growth
page
 Mortgage payment growth hit a new record

California Median Price vs. Mortgage Payment

30 Yr. FRM
6%
5.23% 50%
5% 40%
30%
4%

YTY% Chg.
20%
3.06%
3% 10%
0%
2% -10%
-20%
1%

Jul-16

Jul-17

Jul-18

Jul-19

Jul-20

Jul-21
Jan-16

Jan-17

Jan-18

Jan-19

Jan-20

Jan-21

Jan-22
0%
May-15

May-16

May-17

May-18

May-19

May-20

May-21

May-22
Jan-15

Jan-16

Jan-17

Jan-18

Jan-19

Jan-20

Jan-21

Jan-22
Sep-15

Sep-16

Sep-17

Sep-18

Sep-19

Sep-20

Sep-21
Price Growth Mortgage Pmt Growth

SERIES: Price Growth vs. Mortgage Payment Growth page

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
35
 Mortgage payment growth hit a new record

California Median Price vs. Mortgage Payment

50% Price Growth Mortgage Pmt Growth
44.0%
40%
30%
YTY% Chg.

20%
10% 9.9%
0%
-10%
-20%
Jan-16

Jul-16
Oct-16
Jan-17

Jul-17
Oct-17
Jan-18

Jul-18
Oct-18
Jan-19

Jul-19
Oct-19
Jan-20

Jul-20
Oct-20
Jan-21

Jul-21
Oct-21
Jan-22
Apr-16

Apr-17

Apr-18

Apr-19

Apr-20

Apr-21

Apr-22
SERIES: Price Growth vs. Mortgage Payment Growth page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
36
 Inventory &
Active Listings
 Inventory slightly improving but at what cost

18.0
16.0 May 2021: 1.8 Months; May 2022: 2.1 Months
14.0
Months of Supply

12.0
10.0
8.0
6.0
4.0
2.0
0.0
May-06

May-08

May-10

May-12

May-14

May-16

May-18

May-20

May-22
Jan-05

Jan-07

Jan-09

Jan-11

Jan-13

Jan-15

Jan-17

Jan-19

Jan-21
Sep-05

Sep-07

Sep-09

Sep-11

Sep-13

Sep-15

Sep-17

Sep-19

Sep-21
SERIES: Unsold Inventory Index of Existing Single Family Homes page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
38
 Inventory reached highest level since 2020

5
May 2021: 1.8 Months; May 2022: 2.1 Months

4
Months of Supply

SERIES: Unsold Inventory Index of Existing Single Family Homes page

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
39
 Unsold Inventory increased in the Bay Area, So. CA, and
Central Valley
9.0
8.0 Bay Area So CA Central Valley
7.0
Months of Supply

6.0
5.0
4.0
3.0 2.2
2.0 2.1
1.7
1.0
0.0
Jan-09
Jul-09
Jan-10
Jul-10
Jan-11
Jul-11
Jan-12
Jul-12
Jan-13
Jul-13
Jan-14
Jul-14
Jan-15
Jul-15
Jan-16
Jul-16
Jan-17
Jul-17
Jan-18
Jul-18
Jan-19
Jul-19
Jan-20
Jul-20
Jan-21
Jul-21
Jan-22
SERIES: Unsold Inventory Index of Existing Single Family Homes page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
40
Active listings continue to improve as
the market shifts
California Active Listings by Month
70,000
60,000
50,000
40,000
30,000
20,000
10,000
0

2018 2019 2020 2021 2022

CALIFORNIA ASSOCIATION OF REALTORS®

page
41
Active listings reached the highest level in 22 months

California Active Listings by Month

70,000
60,000
50,000
40,000
30,000
20,000
10,000
0
Mar-18
May-18

Mar-19
May-19

Mar-20
May-20

Mar-21
May-21

Mar-22
May-22
Jan-18

Jul-18

Jan-19

Jul-19

Jan-20

Jul-20

Jan-21

Jul-21

Jan-22
Sep-18
Nov-18

Sep-19
Nov-19

Sep-20
Nov-20

Sep-21
Nov-21
CALIFORNIA ASSOCIATION OF REALTORS®
page
42
 20%
40%
60%

-60%
-40%
-20%
0%
Jan-15
Mar-15
May-15
Jul-15
Sep-15
Nov-15
increase

Jan-16
Mar-16
May-16
Jul-16
Sep-16
Nov-16
Jan-17
Mar-17
May-17
Jul-17
Sep-17
Nov-17
Jan-18
Mar-18
May-18
Jul-18
Sep-18
Nov-18
Jan-19
Mar-19
May-19
Jul-19
Year-over-Year % Chg

Sep-19
Nov-19
Jan-20
Mar-20
May-20
Jul-20
Sep-20
Nov-20
Active listings had back-to-back double-digit

Jan-21
Mar-21
May-21
Jul-21
Sep-21
Nov-21
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
SERIES: Active Listing of Existing Single Family Homes

Jan-22
Mar-22
May-22
43
46.7%

page
 New listings highest in nearly two years

New Listings (Existing Single-Family Homes)

35,000 32,554 60%
29,587
30,000 40%
# of new listings

25,423

YTY% chg. in new listings

25,000 22,691 23,219
20%
9.5%
20,000
0%
15,000
-20%
10,000

5,000 -40%

0 -60%
Jan-18

Jan-19

Jan-20

Jan-21

Jan-22

Jan-19

Jan-20

Jan-21

Jan-22
Jul-18

Jul-19

Jul-20

Jul-21

Jul-19

Jul-20

Jul-21
Apr-18

Oct-18

Apr-19

Oct-19

Apr-20

Oct-20

Apr-21

Oct-21

Apr-22

Apr-19

Oct-19

Apr-20

Oct-20

Apr-21

Oct-21

Apr-22
SERIES: New Listings (Existing Single-Family Homes) page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
44
 New active listings exceeded sales for the third
time in four months
Sales vs. New Active Listings
35,000 New Active Sales

30,000
25,357 25,423
25,000 23,219
22,041
20,000

15,000

10,000

5,000

SERIES: New Listings vs. Sales (Existing Single-Family Homes) page

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
45
 100%

20%
40%
60%
80%

-80%
-60%
-40%
-20%
0%
Jan-19
Feb-19
Mar-19
Apr-19
May-19
Jun-19
Jul-19
Aug-19
Sep-19
Oct-19
Nov-19
momentum slow

Dec-19
yty% chg. in sales

Jan-20
Feb-20
Mar-20
Apr-20
May-20
Jun-20
Jul-20
Aug-20
Sep-20
Oct-20
Nov-20
Dec-20
yty% chg. in new active listings

Jan-21
Feb-21
Mar-21
Apr-21
May-21
Jun-21
Jul-21
Aug-21
Sep-21
Oct-21
Nov-21
yty% chg. in total active listings

Dec-21
Overall supply level continues to improve as sales

Jan-22
Feb-22
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

Mar-22
Apr-22
May-22
46
page
 Active listings by region

May-21 May-22
16,000
14,000 13,451
12,000
Active Listings

10,000 9,291
8,000
6,128
6,000 4,928
3,577 3,693
4,000
2,000 9611,131 1,0031,266
0
San Francisco Southern Central Valley Central Coast Far North
Bay Area California
SERIES: Active Listings of Existing Single Family Homes page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
47
 Supply significantly improve in all regions as sales
slowed across
May 2022
Sales Active Listings
80%
65.9%
Year-to-Year % Chg

44.8%
37.8%
40%
26.2%
17.7%

0%
-4.0%
-11.5% -14.3% -12.2%
-21.8%
-40%
San Francisco Southern Central Valley Central Coast Far North
Bay Area California
SERIES: Sales and Listings of Existing Single Family Homes page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
48
 YTY% chg.

0%

-50%
100%
150%
250%

50%
Yuba

200% 192%
Placer
Nevada
Contra-Costa
Merced
San Benito
Humboldt
Sacramento
Mendocino
Alameda
Amador
El Dorado
San Joaquin
Lake
Riverside
Tulare
Siskiyou
Solano
Calaveras
Stanislaus
Sutter
Yolo
Shasta
Kern
Tehama
Orange
San Bernardino
Los Angeles
Fresno
Santa Clara
Kings
San Diego
Butte
San Mateo
Ventura
Madera
Active Listings (Existing Single-Family Homes)
Housing supply improved in most counties

San Luis Obispo

Monterey
Santa Cruz
Glenn
Santa Barbara
Mariposa
San Francisco
Marin
Mono
Tuolumne
Lassen
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
SERIES: Active Listings (Existing Single-Family Homes)

Sonoma
Napa
Plumas
Del Norte
-30%

49
page
Market Competitiveness
 Time on market remained the same

California, May 2021: 7.0 Days; May 2022: 9.0 Days

70
60
Days on Market

50
40
30
20
10
0

SERIES: Median Time of Market of Existing Single Family Homes page

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
51
Median time on market dropped only in the top 10
percentile
Median Time on Market
May-21 May-22
16
14
14
12
Days on Market

11
10 9 9 9 9 9 9 9 9
8 8 8 8 8 8
8 7 7 7 7
6
4
2
0
0-20 20-40 40-60 60-80 80-100 80-85 86-90 91-95 96-100 Total
Percentile

SERIES: Median Time on Market of Existing Single Family Homes page

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
52
 Sales-to-list price ratio remains over 100% above the
60th percentile
California Sales-to-List Price Ratio by Quintile
110% 109.1% 108.8%
108% 107.0% 107.4%
106% 105.7%

104% 103.4%
102.7%
101.9% 101.3%
102% 101.1%
100%
98%
96%
94%
0-20 20-40 40-60 60-80 80-100 80-85 86-90 91-95 96-100 Total
May-21 May-22
SERIES: Sales to List Ratio of Existing Single Family Homes page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
53
 Median sales vs. list price growth $1M+ properties

California Median Sales vs. List Price Growth

25%
20%
YTY% Chg. in Price

15%
10%
5%
0%
-5%
-10%
-15%
-20%
Jan-09
Jul-09
Jan-10
Jul-10
Jan-11
Jul-11
Jan-12
Jul-12
Jan-13
Jul-13
Jan-14
Jul-14
Jan-15
Jul-15
Jan-16
Jul-16
Jan-17
Jul-17
Jan-18
Jul-18
Jan-19
Jul-19
Jan-20
Jul-20
Jan-21
Jul-21
Jan-22
Listing Price Sales Price

SERIES: Sales to List Ratio of Existing Single Family Homes page

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
54
 Reduced-Price Listings

Share of Listings with a Reduced Price: 28.1%; Median Reduction Amount: -5.1%

50% 0%
45% -1%
40% -2%
35% -3%
30% -4%
25% -5%
20% -6%
15% -7%
10% -8%
5% -9%
0% -10%
11/1/2010

12/1/2012

10/1/2013

11/1/2015

12/1/2017

10/1/2018

11/1/2020
1/1/2010
6/1/2010

4/1/2011
9/1/2011
2/1/2012
7/1/2012

5/1/2013

3/1/2014
8/1/2014
1/1/2015
6/1/2015

4/1/2016
9/1/2016
2/1/2017
7/1/2017

5/1/2018

3/1/2019
8/1/2019
1/1/2020
6/1/2020

4/1/2021
9/1/2021
2/1/2022
Share Reduced Median Reduction
SERIES: Listing Price of Existing Single Family Homes page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
55
 Growth in Reduced-Price Listings

Growth in Share of Listings with a Reduced Price: +11.2%

Growth in Median Reduction Amount: 0.0%
15% 1.4%
1.2%
10%
1.0%
YTY % chg.

5% 0.8%
0.6%
0%
0.4%
-5% 0.2%
0.0%
-10%
-0.2%
-15% -0.4%
10/1/2015

10/1/2016

10/1/2017

10/1/2018

10/1/2019

10/1/2020

10/1/2021
1/1/2015
4/1/2015
7/1/2015

1/1/2016
4/1/2016
7/1/2016

1/1/2017
4/1/2017
7/1/2017

1/1/2018
4/1/2018
7/1/2018

1/1/2019
4/1/2019
7/1/2019

1/1/2020
4/1/2020
7/1/2020

1/1/2021
4/1/2021
7/1/2021

1/1/2022
4/1/2022
Share Reduced Median Reduction

SERIES: Listing Price of Existing Single Family Homes page

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
56