California Housing Market

Update

Monthly Sales and Price Statistics

April 2017
 Sales Lost Steam after a Strong Start in
Q1 Apr. 2017 Sales: 406,300 Units, +3.5% YTD,
California,
-1.7%
700,000 YTY

600,000
Apr-16: Apr-17:
413,380 406,300
500,000

400,000

300,000

200,000

100,000

SERIES: Sales of Existing Single Family Homes

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS *Sales are seasonally adjusted and annualized
 California Sales Dipped in April after
Increasing 3 Consecutive Months
Year-over-Year % Chg Moving average (Year-over-Year % Chg)
20%

15%

10%

5%

0%

-5%

-10%

-15%

-20%

-25%

SERIES: Sales of Existing Single Family Homes

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS
 Bay Area Sales Declined Year Over Year
Bay Area Moving average (Bay Area)
30%

20%

10%

0%
YoY % chg.
-10%

-20%

-30%

SERIES: Sales of Existing Single Family Homes

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS
 Southern California Saw Steep Decline in
April So CA Moving average (So CA)
YoY % chg.
40%

30%

20%

10%

0%

-10%

-20%

-30%

SERIES: Sales of Existing Single Family Homes

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS
 Central Valley Sales Down From Last Year
Central Valley Moving average (Central Valley)
YoY % chg.
30%

20%

10%

0%

-10%

-20%

-30%

SERIES: Sales of Existing Single Family Homes

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS
 Sale Shares Increased in Mid to High End Markets

Apr-17 Apr-16
30%

21%
21%
20%
17%
16% 16%16%
14%14%
10% 11%10% 11%
10%
10% 8%

3% 3%

0%

SERIES: Sales of Existing Single Family Homes

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS
 Sales Improved in High-Priced Markets But
Continued to Decline in Lower-Priced Segments
(Year-to-Year)

Apr-17
15%
10% 8.6%
5.3%
5% 3.5%
-26.4% -10.9% -3.0% -9.2% -0.7%
0%
-5%
-10%
-15%
-20%
-25%
-30%

SERIES: Sales of Existing Detached Homes

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS
 Median Price Continues to See Gains
California, April 2017: $536,750, +3.7% MTM, +5.4% YTY
P: May-07
$700,000 $594,530
Apr-16: Apr-17:
$600,000 $509,24 $536,750
0
$500,000
T: Feb-09
$245,230
$400,000 -59% from
peak
$300,000

$200,000

$100,000

$-

ERIES: Median Price of Existing Single Family Homes

OURCE: CALIFORNIA ASSOCIATION OF REALTORS
 Home Price Appreciations Have
Moderated Since Mid 2013
Condo Single-Family Homes
50%
40%
30%
20%
10%
0%
YTY% Chg. in Price -10%
-20%
-30%
-40%
-50%

ERIES: Median Price of Existing Single Family Homes

OURCE: CALIFORNIA ASSOCIATION OF REALTORS
 CA Median Price (Existing SFH)
Month-to-Month % Chg
15%

10%

5%

0%

-5%

-10%

-15%

ERIES: Median Price of Existing Single Family Homes

OURCE: CALIFORNIA ASSOCIATION OF REALTORS
 Price Per Square Foot Highest since the
End of 2007
April 2017: $258, Up 2.4% MTM, Up 6.0% YTY
$400

$350 Apr-17:
Apr-16:
$258
$300 $244

$250

$200
PRICE PER SQ. FT.
$150

$100

$50

$0

RIES: Median Price Per Square Feet of Existing Single Family Homes
URCE: CALIFORNIA ASSOCIATION OF REALTORS
 Sales Price -to-List Price back to 2013 Level
April 2017: 100.0%, Up 0.7% MTM, Up 0.7% YTY Apr-17:
Apr-16:
99.3% 100%

100%

98%

96%

94%

92%
Sales-to-List Price Ratio

90%

88%

86%

RIES: Sales to List Ratio of Existing Single Family Homes

OURCE: CALIFORNIA ASSOCIATION OF REALTORS
 Inventory Improved from March but
Declined from Last April
Apr. 2016: 3.5 Months; Apr. 2017: 3.3 Months
18.0
16.0
14.0
12.0
10.0
8.0
6.0
4.0
2.0
0.0

Note: Unsold Inventory Index represents the number of months it would take to sell the remaining inventory for the month in question. The remaining inventory for the month
is defined as the number of properties that were Active, Pending, and Contingent (when available) and divide the sum by the number of Sold properties for the month in
question.

RIES: Unsold Inventory Index of Existing Single Family Homes

URCE: CALIFORNIA ASSOCIATION OF REALTORS
 Inventory Dropped Significantly in the Bay
Area since 2009
9.0 Bay Area So CA Central Valley

8.0

7.0

6.0

5.0

4.0
3.5
3.0 3.0
2.0 2.
4
1.0

0.0

Note: Unsold Inventory Index represents the number of months it would take to sell the remaining inventory for the month in question. The remaining inventory for the month
is defined as the number of properties that were Active, Pending, and Contingent (when available) and divide the sum by the number of Sold properties for the month in
question.

RIES: Unsold Inventory Index of Existing Single Family Homes

URCE: CALIFORNIA ASSOCIATION OF REALTORS
 Supply and Sales Dropped in Each Region
April 2017

Sales Active Listings

-4% -9% -12% -9%
0%

-4%
-6%
-10%

Year-to-Year % Chg
-20%

ERIES: Sales and Listings of Existing Single Family Homes

OURCE: CALIFORNIA ASSOCIATION OF REALTORS