CALIFORNIA

HOUSING MARKET
UPDATE

Monthly Sales and Price Statistics

April 2016

SALES OF EXISTING DETACHED HOMES

California, Apr. 2016 Sales: 406,800 Units, +3.6% YTD, -5.4%
YTY
700,000
600,000
500,000

Apr-15: Apr 16:

430,030 406,800

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
(JAN 2000 PRESENT)
Year-over-Year % Chg
Moving average (Year-over-Year % Chg)
140%
120%
100%
80%
60%
40%
20%
0%
-20%
-40%
-60%

ES: Sales of Existing Single Family Homes, Not Seasonally Adjusted

RCE: CALIFORNIA ASSOCIATION OF REALTORS

BAY AREA SALES (EXISTING SFH)

YoY % chg.

Bay Area

Moving average (Bay Area)

30%
20%
10%
0%
-10%
-20%
-30%

SERIES: Sales, Not Seasonally Adjusted

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS

SOUTHERN CALIFORNIA (EXISTING SFH)

YoY % chg.

So CA

Moving average (So CA)

30%
20%
10%
0%
-10%
-20%
-30%

SERIES: Sales, Not Seasonally Adjusted

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS

CENTRAL VALLEY SALES (EXISTING SFH)

YoY % chg.

Central Valley

Moving average (Central Valley)

30%
20%
10%
0%
-10%
-20%
-30%

SERIES: Sales, Not Seasonally Adjusted

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS

SALES SHARE BY PRICE RANGE

Apr-16

Apr-15

30%

20%

10%

17%
17%
13%
10%

21%
19%
16%
16%

14%
14%
10%9%

10%9%
3%3%

0%

SERIES: Sales of Existing Detached Homes

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS

MEDIAN PRICE OF EXISTING DETACHED HOMES

California, Apr. 2016: $509,100, +5.3% MTM, +5.1%
P: May-07
$700,000
YTY
$594,530
Apr-16:
$509,10
Apr-15:
0
$484,37
0

$600,000
$500,000
$400,000

T: Feb-09
$245,230
-59% from
peak

$300,000
$200,000
$100,000
$-

SERIES: Median Price of Existing Single Family Homes

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS

HOME PRICE APPRECIATIONS HAVE

MODERATED SINCE MID 2013
YTY% Chg. in Price
Condo

Single-Family Homes

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

SERIES: Sales of SFH and Condo Units

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS

CA MEDIAN PRICE (EXISTING SFH)

Month-to-Month % Chg
15%
10%
5%
0%
-5%
-10%
-15%

SERIES: Median Price, Not Seasonally Adjusted

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS

PRICE PER SQUARE FOOT

Apr. 2016: $244, Up 7.3% MTM, Up 4.2% YTY
PRICE PER SQ. FT.
$400
$350
$300
$250
$200
$150
$100
$50
$0

SERIES: Median Price Per Square Feet

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS

Apr-15: Apr-16:
$234
$244

SALES PRICE -TO-LIST PRICE RATIO

Apr. 2016: 99.3%, Up 0.5% MTM, Up 0.5% YTY
Sales-to-List Price Ratio
100%
98%
96%
94%
92%
90%
88%
86%

SERIES: Sales-to-List Ratio

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS

Apr-15:
99.0%

Apr-16:
99.3%

UII UP FROM LAST YEAR BUT

DUE PRIMARILY TO SALES DECLINE
Apr. 2015: 3.4 Months; Apr. 2016: 3.5
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.
SERIES:
Unsold Inventory Index of Existing Single Family Homes

SOURCE: 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

3.9
3.3

3.0
2.0
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.
SERIES:
Unsold Inventory Index of Existing Single Family Homes

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS

2.6

SUPPLY DROPPED IN SO CA AND CENTRAL

VALLEY, BUT UP IN THE BAY AREA
Apr. 2016
Year-to-Year % Chg

Sales

Active Listings

10%
3%
0%

-13%

-3%

0%

-12%

-4%
-10%

-20%

San Francisco Bay Area

Southern California

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS

Central Valley