CALIFORNIA

HOUSING MARKET
UPDATE

Monthly Sales and Price Statistics

April 2015

SALES OF EXISTING DETACHED HOMES

California, Mar. 2015 Sales: 391,680 Units, +2.3%YTD, +7.3%YTY
700,000
600,000
Mar-14: Mar-15:
365,120 391,680

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

Jan-15

Jul-14

Jan-14

Jul-13

Jan-13

Jul-12

Jan-12

Jul-11

Jan-11

Jul-10

Jan-10

Jul-09

Jan-09

Jul-08

Jan-08

Jul-07

Jan-07

Jul-06

Jan-06

Jul-05

Jan-05

MEDIAN PRICE OF EXISTING DETACHED HOMES

California, Mar. 2015: $468,550, +9.2% MTM, +7.2%YTY
P: May-07
$594,530

$700,000
$600,000

Mar-14:
$437,100

$500,000

Mar-15:
$468,550

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

$400,000
$300,000
$200,000
$100,000

SERIES: Median Price of Existing Single Family Homes

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS

Jan-15

Jul-14

Jan-14

Jul-13

Jan-13

Jul-12

Jan-12

Jul-11

Jan-11

Jul-10

Jan-10

Jul-09

Jan-09

Jul-08

Jan-08

Jul-07

Jan-07

Jul-06

Jan-06

Jul-05

Jan-05

$-

CALIFORNIA SALES
Year-over-Year % Chg

6 per. Mov. Avg. (Year-over-Year % Chg)

15%
10%
5%
0%
-5%
-10%
-15%
-20%

SERIES: Sales of Existing Single Family Homes, Seasonally Adjusted

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS

Jan-15

Oct-14

Jul-14

Apr-14

Jan-14

Oct-13

Jul-13

Apr-13

Jan-13

Oct-12

Jul-12

Apr-12

Jan-12

Oct-11

Jul-11

Apr-11

Jan-11

Oct-10

Jul-10

Apr-10

Jan-10

-25%

CHANGE IN SALES BY PRICE RANGE

(Year-to-Year)

Mar-15

30%
25%

18.9%

20%
15%

9.5%

10%

9.7%

5%
0%
-5%
-10%
-15%

-11.5%

SERIES: Sales of Existing Detached Homes

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS

24.2%
16.8%

26.3%

26.2%

BAY AREA SALES (EXISTING SFH)

Bay Area

6 per. Mov. Avg. (Bay Area)

30%
25%
20%
15%
10%
5%
0%
-5%
-10%
-15%
-20%

SERIES: Sales, Not Seasonally Adjusted

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS

Jan-15

Oct-14

Jul-14

Apr-14

Jan-14

Oct-13

Jul-13

Apr-13

Jan-13

Oct-12

Jul-12

Apr-12

Jan-12

Oct-11

Jul-11

Apr-11

Jan-11

Oct-10

Jul-10

Apr-10

Jan-10

-25%

CENTRAL VALLEY SALES (EXISTING SFH)

Central Valley

6 per. Mov. Avg. (Central Valley)

20%
15%
10%
5%
0%
-5%
-10%
-15%
-20%
-25%

SERIES: Sales, Not Seasonally Adjusted

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS

Jan-15

Oct-14

Jul-14

Apr-14

Jan-14

Oct-13

Jul-13

Apr-13

Jan-13

Oct-12

Jul-12

Apr-12

Jan-12

Oct-11

Jul-11

Apr-11

Jan-11

Oct-10

Jul-10

Apr-10

Jan-10

-30%

SOUTHERN CALIFORNIA (EXISTING SFH)

So CA

6 per. Mov. Avg. (So CA)

25%
20%
15%
10%
5%
0%
-5%
-10%
-15%
-20%

SERIES: Sales, Not Seasonally Adjusted

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS

Jan-15

Oct-14

Jul-14

Apr-14

Jan-14

Oct-13

Jul-13

Apr-13

Jan-13

Oct-12

Jul-12

Apr-12

Jan-12

Oct-11

Jul-11

Apr-11

Jan-11

Oct-10

Jul-10

Apr-10

Jan-10

-25%

MEDIAN PRICES BY REGION(EXISTING SFH)

Bay Area

YTY% Chg. in Price

Central Valley

So CA

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

SERIES: Median Price, Not Seasonally Adjusted

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS

Jan-15

Oct-14

Jul-14

Apr-14

Jan-14

Oct-13

Jul-13

Apr-13

Jan-13

Oct-12

Jul-12

Apr-12

Jan-12

Oct-11

Jul-11

Apr-11

Jan-11

Oct-10

Jul-10

Apr-10

Jan-10

-20%

INVENTORY IMPROVING FROM LASTYEAR

March 2014: 4.0 Months; March 2015: 3.8 Months
18
16
14
12
10
8
6
4
2

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

Jan-15

Jul-14

Jan-14

Jul-13

Jan-13

Jul-12

Jan-12

Jul-11

Jan-11

Jul-10

Jan-10

Jul-09

Jan-09

Jul-08

Jan-08

Jul-07

Jan-07

Jul-06

Jan-06

Jul-05

Jan-05

UNSOLD INVENTORY INDEX (MONTHS)

Price Range (Thousand)

Mar-15

Feb-15

Mar-14

$1,000K+

5.0

7.5

5.7

$750-999K

4.0

5.7

4.4

$500-749K

3.6

4.8

3.8

$400-499K

3.5

4.5

3.8

$300-399K

3.6

4.4

3.8

$200-299K

3.6

4.7

3.7

$0-199K

3.7

4.6

3.6

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

CHANGE IN INVENTORY BY PRICE RANGE

(Year-to-Year)
Mar-15
20%

8.9%

8.7%

10%

4.9%

0%

-10%

-11.3%
-20%

SERIES: Inventory of Existing Single Family Homes

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS

12.0%

14.8%

13.2%

PRICE PER SQUARE FOOT

March 2015: $223, Up 6.1% MTM, Up 5.7%YTY
PRICE PER SQ. FT.
$400
$350
$300
$250
$200
$150
$100
$50

SERIES: Median Price Per Square Feet

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS

Jan-15

Sep-14

May-14

Jan-14

Sep-13

May-13

Jan-13

Sep-12

May-12

Jan-12

Sep-11

May-11

Jan-11

Sep-10

May-10

Jan-10

Sep-09

May-09

Jan-09

Sep-08

May-08

Jan-08

Sep-07

May-07

Jan-07

$0

SALES-TO-LIST RATIO
March 2015: 98.3%, Up 0.6% MTM, Down 0.3%YTY
Sales-to-List Price Ratio
102%
100%

98.3%

98%
96%
94%
92%
90%
88%

SERIES: Sales-to-List Ratio

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS

Jan-15

Sep-14

May-14

Jan-14

Sep-13

May-13

Jan-13

Sep-12

May-12

Jan-12

Sep-11

May-11

Jan-11

Sep-10

May-10

Jan-10

Sep-09

May-09

Jan-09

Sep-08

May-08

Jan-08

Sep-07

May-07

Jan-07

86%