Pending Home Sales Index

March 22, 2017

 Decline in Pending Sales Suggests Softening in Closed Sales in
Upcoming Months
California: February 2017
Feb-16: Feb-17:
140
113.5 110.6

120

100

80

60

40

20

SERIES: Pending Home Sales Index, Seasonally Adjusted

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS
 Pending Sales vs. Closed Sales
(Year-to-Year Percent Change)
California: February 2017
140% YTY% Chg. in Pending Sales YTY% Chg. in Closed Sales

120%

100%

80%

60%

40%

20%
C: 4.9%
0%
P: -2.6%
-20%

-40%

SERIES: Pending Home Sales Index

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS
 Bay Area Dropped for the 5th Consecutive Month Yty

February 2017: San Francisco Bay = 130.6

300

250

200

150

100

50

SERIES: Pending Home Sales Index

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS
 So CA Dipped Year-over-Year for the First Time since
March 2016
February 2017: Southern California = 95.2
160

140

120

100

80

60

40

20

SERIES: Pending Home Sales Index

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS
 Central Valley Dropped More Than 10 percent in February

February 2017: Central Valley = 76.3

140

120

100

80

60

40

20

SERIES: Pending Home Sales Index

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS
 Pending Home Sales By Region

Year-to-Year % Chg.
Jan-17
0%

-2%

-4% -2.8%

-6%

-8%

-10%
-10.0%
-12%
-11.4%

-14%
SF Bay Area Southern California Central Valley

SERIES: Pending Home Sales Index

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS