CALIFORNIA HOUSING

MARKET UPDATE

Monthly Sales and Price Statistics

November 2016

SALES OF EXISTING DETACHED HOMES

California, Nov. 2016 Sales: 442,320 Units, +1.9% YTD, +17.7% YTY
700,000
600,000
500,000

Nov-15:
375,850

Nov-16:
442,320

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

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

140%
120%
100%
80%
60%
40%
20%
0%
-20%
-40%
-60%

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

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS

BAY AREA SALES (EXISTING SFH)

Bay Area

YoY % chg.

6 per. Mov. Avg. (Bay Area)

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

SERIES: Sales, Not Seasonally Adjusted

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS

Sep-16

May-16

Jan-16

Sep-15

May-15

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

-30%

SOUTHERN CALIFORNIA (EXISTING SFH)

So CA

YoY % chg.

6 per. Mov. Avg. (So CA)

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

SERIES: Sales, Not Seasonally Adjusted

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS

Sep-16

May-16

Jan-16

Sep-15

May-15

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

-30%

CENTRAL VALLEY SALES (EXISTING SFH)

Central Valley

YoY % chg.

6 per. Mov. Avg. (Central Valley)

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

SERIES: Sales, Not Seasonally Adjusted

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS

Sep-16

May-16

Jan-16

Sep-15

May-15

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

-30%

SALES SHARE BY PRICE RANGE

Nov-16

Nov-15

30%

21%
20%

20%

17%17%
12%

10%

17% 16%

14% 14%

8%

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, Nov. 2016: $501,710, -2.3% MTM, +4.9% YTY
$700,000

P: May-07
$594,530

Nov-16:
Nov-15:
$501,710
$478,140

$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
50%

Condo

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

SERIES: Sales of SFH and Condo Units

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS

Single-Family Homes

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

Nov. 2016: $250, Up 1.0% MTM, Up 5.9% 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

Nov-15: Nov-16:
$250
$236

SALES PRICE -TO-LIST PRICE RATIO

Nov. 2016: 98.3%, Down 0.1% MTM, Up 0.2% YTY
Sales-to-List Price Ratio
100%
98%
96%
94%
92%
90%
88%
86%

SERIES: Sales-to-List Ratio

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS

Nov-15:
98.1%

Nov-16:
98.3%

UII REMAINED AT LOW LEVELS DECREASING

FROM LAST YEAR
Nov. 2015: 4.2 Months; Nov. 2016: 3.1 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

3.5

3.0

3.0

2.0

1.9

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

SUPPLY DROPPED IN EACH REGION

September 2016
Sales

Active Listings

40%
28%

Year-to-Year % Chg

30%
20%

25%

19%

10%
0%
-10%

-5%

-7%

-10%

-20%
San Francisco Bay Area
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS

Southern California

Central Valley