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CALIFORNIA HOUSING MARKET UPDATE
Monthly Sales and Price Statistics
May 2015
SALES OF EXISTING DETACHED HOMES
California, Apr. 2015 Sales: 427,620 Units, +4.1% YTD, +9.3% YTY
-
100,000
200,000
300,000
400,000
500,000
600,000
700,000
Jan
-05
Jul-
05
Jan
-06
Jul-
06
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
*Sales are seasonally adjusted and annualized SERIES: Sales of Existing Single Family Homes SOURCE: CALIFORNIA ASSOCIATION OF REALTORS
Apr-15: 427,620
Apr-14: 391,330
CALIFORNIA SALES
SERIES: Sales of Existing Single Family Homes, Seasonally Adjusted SOURCE: CALIFORNIA ASSOCIATION OF REALTORS
-25%
-20%
-15%
-10%
-5%
0%
5%
10%
15%
Jan
-10
Ap
r-10
Jul-
10
Oct
-10
Jan
-11
Ap
r-11
Jul-
11
Oct
-11
Jan
-12
Ap
r-12
Jul-
12
Oct
-12
Jan
-13
Ap
r-13
Jul-
13
Oct
-13
Jan
-14
Ap
r-14
Jul-
14
Oct
-14
Jan
-15
Ap
r-15
Year-over-Year % Chg 6 per. Mov. Avg. (Year-over-Year % Chg)
BAY AREA SALES (EXISTING SFH)
SERIES: Sales, Not Seasonally Adjusted SOURCE: CALIFORNIA ASSOCIATION OF REALTORS
-25%
-20%
-15%
-10%
-5%
0%
5%
10%
15%
20%
25%
30%
Jan
-10
Ap
r-10
Jul-
10
Oct
-10
Jan
-11
Ap
r-11
Jul-
11
Oct
-11
Jan
-12
Ap
r-12
Jul-
12
Oct
-12
Jan
-13
Ap
r-13
Jul-
13
Oct
-13
Jan
-14
Ap
r-14
Jul-
14
Oct
-14
Jan
-15
Ap
r-15
Bay Area 6 per. Mov. Avg. (Bay Area)
CENTRAL VALLEY SALES (EXISTING SFH)
SERIES: Sales, Not Seasonally Adjusted SOURCE: CALIFORNIA ASSOCIATION OF REALTORS
-30%
-25%
-20%
-15%
-10%
-5%
0%
5%
10%
15%
20%
Jan
-10
Ap
r-10
Jul-
10
Oct
-10
Jan
-11
Ap
r-11
Jul-
11
Oct
-11
Jan
-12
Ap
r-12
Jul-
12
Oct
-12
Jan
-13
Ap
r-13
Jul-
13
Oct
-13
Jan
-14
Ap
r-14
Jul-
14
Oct
-14
Jan
-15
Ap
r-15
Central Valley 6 per. Mov. Avg. (Central Valley)
SOUTHERN CALIFORNIA (EXISTING SFH)
SERIES: Sales, Not Seasonally Adjusted SOURCE: CALIFORNIA ASSOCIATION OF REALTORS
-25%
-20%
-15%
-10%
-5%
0%
5%
10%
15%
20%
25%
Jan
-10
Ap
r-10
Jul-
10
Oct
-10
Jan
-11
Ap
r-11
Jul-
11
Oct
-11
Jan
-12
Ap
r-12
Jul-
12
Oct
-12
Jan
-13
Ap
r-13
Jul-
13
Oct
-13
Jan
-14
Ap
r-14
Jul-
14
Oct
-14
Jan
-15
Ap
r-15
So CA 6 per. Mov. Avg. (So CA)
MEDIAN PRICE OF EXISTING DETACHED HOMES
California, Apr. 2015: $481,760, +2.8% MTM, +7.4% YTY
$-
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
Jan
-05
Jul-
05
Jan
-06
Jul-
06
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
P: May-07 $594,530
T: Feb-09 $245,230 -59% from peak
SERIES: Median Price of Existing Single Family Homes SOURCE: CALIFORNIA ASSOCIATION OF REALTORS
Apr-15: $481,760
Apr-15: $448,720
CA MEDIAN PRICE (EXISTING SFH)
SERIES: Median Price, Not Seasonally Adjusted SOURCE: CALIFORNIA ASSOCIATION OF REALTORS
-15%
-10%
-5%
0%
5%
10%
15%
Jan
-05
Jun
-05
No
v-0
5
Ap
r-0
6
Sep
-06
Feb
-07
Jul-
07
Dec
-07
May
-08
Oct
-08
Mar
-09
Au
g-0
9
Jan
-10
Jun
-10
No
v-10
Ap
r-11
Sep
-11
Feb
-12
Jul-
12
Dec
-12
May
-13
Oct
-13
Mar
-14
Au
g-1
4
Jan
-15
Month-to-Month % Chg
CHANGE IN SALES BY PRICE RANGE
(Year-to-Year)
-16.5%
4.6%
9.7%
17.0% 14.0%
24.0% 21.1%
12.6%
-20%
-15%
-10%
-5%
0%
5%
10%
15%
20%
25%
30%
Apr-15
SERIES: Sales of Existing Detached Homes SOURCE: CALIFORNIA ASSOCIATION OF REALTORS
INVENTORY DROPPED SLIGHTLY FROM LAST YEAR
Apr 2014: 3.6 Months; Apr 2015: 3.5 Months
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.
0
2
4
6
8
10
12
14
16
18
Jan
-05
Jul-
05
Jan
-
Jul-
06
Jan
-07
Jul-
07
Jan
-
Jul-
08
Jan
-
Jul-
09
Jan
-10
Jul-
10
Jan
-11
Jul-
11
Jan
-12
Jul-
12
Jan
-13
Jul-
13
Jan
-14
Jul-
14
Jan
-15
SERIES: Unsold Inventory Index of Existing Single Family Homes SOURCE: CALIFORNIA ASSOCIATION OF REALTORS
UNSOLD INVENTORY INDEX (MONTHS)
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.
Price Range (Thousand) Apr-15 Mar-15 Apr-14
$1,000K+ 4.5 5.0 4.8
$750-999K 3.5 4.0 3.9
$500-749K 3.4 3.6 3.5
$400-499K 3.1 3.5 3.4
$300-399K 3.2 3.6 3.5
$200-299K 3.4 3.6 3.3
$0-199K 3.3 3.7 3.1
SERIES: Unsold Inventory Index of Existing Single Family Homes SOURCE: CALIFORNIA ASSOCIATION OF REALTORS
INVENTORY DROPPED SIGNIFICANTLY IN THE BAY AREA SINCE 2009
BUT REMAINED TIGHT
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.
2.2
3.5 3.7
0.0
1.0
2.0
3.0
4.0
5.0
6.0
7.0
8.0
9.0
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
Bay Area Central Valley So CA
SERIES: Unsold Inventory Index of Existing Single Family Homes SOURCE: CALIFORNIA ASSOCIATION OF REALTORS
PRICE PER SQUARE FOOT
April 2015: $223, Up 4.0% MTM, Up 8.4% YTY
$0
$50
$100
$150
$200
$250
$300
$350
$400
Jan
-07
Ap
r-0
7
Jul-
07
Oct
-07
Jan
-08
Ap
r-0
8
Jul-
08
Oct
-08
Jan
-09
Ap
r-0
9
Jul-
09
Oct
-09
Jan
-10
Ap
r-10
Jul-
10
Oct
-10
Jan
-11
Ap
r-11
Jul-
11
Oct
-11
Jan
-12
Ap
r-12
Jul-
12
Oct
-12
Jan
-13
Ap
r-13
Jul-
13
Oct
-13
Jan
-14
Ap
r-14
Jul-
14
Oct
-14
Jan
-15
Ap
r-15
PRICE PER SQ. FT.
SERIES: Median Price Per Square Feet SOURCE: CALIFORNIA ASSOCIATION OF REALTORS
SALES-TO-LIST RATIO
April 2015: 98.8%, Up 0.5% MTM, Down 0.2% YTY
98.8%
86%
88%
90%
92%
94%
96%
98%
100%
102%
Jan
-07
Ap
r-0
7
Jul-
07
Oct
-07
Jan
-08
Ap
r-0
8
Jul-
08
Oct
-08
Jan
-09
Ap
r-0
9
Jul-
09
Oct
-09
Jan
-10
Ap
r-10
Jul-
10
Oct
-10
Jan
-11
Ap
r-11
Jul-
11
Oct
-11
Jan
-12
Ap
r-12
Jul-
12
Oct
-12
Jan
-13
Ap
r-13
Jul-
13
Oct
-13
Jan
-14
Ap
r-14
Jul-
14
Oct
-14
Jan
-15
Ap
r-15
Sales-to-List Price Ratio
SERIES: Sales-to-List Ratio SOURCE: CALIFORNIA ASSOCIATION OF REALTORS
HOUSING DEMAND OUTPACED SUPPLY IN THE BAY AREA AND SO CAL
8% 9%
7%
-11%
3%
11%
-20%
-10%
0%
10%
20%
San Francisco Bay Area Southern California Central Valley
Sales Active ListingsYear-to-Year % Chg
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS
April 2015