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California home sales softened in May, but the housing market momentum continued to be solid as the spring home-buying season marked higher year-over-year home sales and prices for the fourth straight month. The County MLS median price and sales data in the tables are generated from a survey of more than 90 associations of REALTORS® throughout the state, and represent statistics of existing single-family detached homes only.
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CALIFORNIAHOUSING MARKETUPDATE
Monthly Sales and Price StatisticsJune 2015
SALES OF EXISTING DETACHED HOMES
California, May 2015 Sales: 423,360 Units, +5.1%YTD, +8.9%YTY
-
100,000
200,000
300,000
400,000
500,000
600,000
700,000
Jan-
05
Jul-0
5
Jan-
06
Jul-0
6
Jan-
07
Jul-0
7
Jan-
08
Jul-0
8
Jan-
09
Jul-0
9
Jan-
10
Jul-1
0
Jan-
11
Jul-1
1
Jan-
12
Jul-1
2
Jan-
13
Jul-1
3
Jan-
14
Jul-1
4
Jan-
15
*Sales are seasonally adjusted and annualizedSERIES: Sales of Existing Single Family HomesSOURCE: CALIFORNIA ASSOCIATION OF REALTORS
May-15:423,360
May-14:388,690
MEDIAN PRICE OF EXISTING DETACHED HOMES
California, May 2015: $485,830, +0.8% MTM, +4.4%YTY
$-
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
Jan-
05
Jul-0
5
Jan-
06
Jul-0
6
Jan-
07
Jul-0
7
Jan-
08
Jul-0
8
Jan-
09
Jul-0
9
Jan-
10
Jul-1
0
Jan-
11
Jul-1
1
Jan-
12
Jul-1
2
Jan-
13
Jul-1
3
Jan-
14
Jul-1
4
Jan-
15
P: May-07$594,530
T: Feb-09$245,230-59% frompeak
SERIES: Median Price of Existing Single Family HomesSOURCE: CALIFORNIA ASSOCIATION OF REALTORS
May-15:$485,830May-15:
$465,470
CALIFORNIA SALES
SERIES: Sales of Existing Single Family Homes, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS
-60%
-40%
-20%
0%
20%
40%
60%
80%
100%
120%
140%
Jan-
00
Aug
-00
Mar
-01
Oct
-01
May
-02
Dec
-02
Jul-0
3
Feb-
04
Sep-
04
Apr
-05
Nov
-05
Jun-
06
Jan-
07
Aug
-07
Mar
-08
Oct
-08
May
-09
Dec
-09
Jul-1
0
Feb-
11
Sep-
11
Apr
-12
Nov
-12
Jun-
13
Jan-
14
Aug
-14
Mar
-15
Year-over-Year % Chg 6 per. Mov. Avg. (Year-over-Year % Chg)
CALIFORNIA SALES
SERIES: Sales of Existing Single Family Homes, Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS
-25%
-20%
-15%
-10%
-5%
0%
5%
10%
15%
Jan-
10
Apr
-10
Jul-1
0
Oct
-10
Jan-
11
Apr
-11
Jul-1
1
Oct
-11
Jan-
12
Apr
-12
Jul-1
2
Oct
-12
Jan-
13
Apr
-13
Jul-1
3
Oct
-13
Jan-
14
Apr
-14
Jul-1
4
Oct
-14
Jan-
15
Apr
-15
Year-over-Year % Chg 6 per. Mov. Avg. (Year-over-Year % Chg)
SALES SHARE BY PRICE RANGE
14%17% 16%
13%
19%
9% 9%
3%
12%
17% 16%14%
20%
9% 10%
3%
0%
10%
20%
30%
May-14 May-15
SERIES: Sales of Existing Detached HomesSOURCE: CALIFORNIA ASSOCIATION OF REALTORS
CHANGE IN SALES BY PRICE RANGE
(Year-to-Year)
-14.1%
7.9%4.0%
7.4% 8.8%11.6%
14.9%
21.1%
-20%
-15%
-10%
-5%
0%
5%
10%
15%
20%
25%
May-15
SERIES: Sales of Existing Detached HomesSOURCE: CALIFORNIA ASSOCIATION OF REALTORS
SALES BY REGION(EXISTING SFH)
SERIES: Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS
-25%
-20%
-15%
-10%
-5%
0%
5%
10%
15%
20%
Bay Area Central Valley So CA
BAY AREA SALES (EXISTING SFH)
SERIES: Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS
-25%
-20%
-15%
-10%
-5%
0%
5%
10%
15%
20%
25%
30%
Jan-
10
Apr
-10
Jul-1
0
Oct
-10
Jan-
11
Apr
-11
Jul-1
1
Oct
-11
Jan-
12
Apr
-12
Jul-1
2
Oct
-12
Jan-
13
Apr
-13
Jul-1
3
Oct
-13
Jan-
14
Apr
-14
Jul-1
4
Oct
-14
Jan-
15
Apr
-15
Bay Area 6 per. Mov. Avg. (Bay Area)
CENTRAL VALLEY SALES (EXISTING SFH)
SERIES: Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS
-30%
-25%
-20%
-15%
-10%
-5%
0%
5%
10%
15%
20%
Jan-
10
Apr
-10
Jul-1
0
Oct
-10
Jan-
11
Apr
-11
Jul-1
1
Oct
-11
Jan-
12
Apr
-12
Jul-1
2
Oct
-12
Jan-
13
Apr
-13
Jul-1
3
Oct
-13
Jan-
14
Apr
-14
Jul-1
4
Oct
-14
Jan-
15
Apr
-15
Central Valley 6 per. Mov. Avg. (Central Valley)
SOUTHERN CALIFORNIA (EXISTING SFH)
SERIES: Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS
-25%
-20%
-15%
-10%
-5%
0%
5%
10%
15%
20%
25%
Jan-
10
Apr
-10
Jul-1
0
Oct
-10
Jan-
11
Apr
-11
Jul-1
1
Oct
-11
Jan-
12
Apr
-12
Jul-1
2
Oct
-12
Jan-
13
Apr
-13
Jul-1
3
Oct
-13
Jan-
14
Apr
-14
Jul-1
4
Oct
-14
Jan-
15
Apr
-15
So CA 6 per. Mov. Avg. (So CA)
INVENTORY DROPPED SLIGHTLY FROM LASTYEAR
May 2014: 3.7Months; May 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. Theremaining inventory for the month is defined as the number of properties that were Active, Pending, and Contingent (when available) anddivide 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-0
5
Jan-
Jul-0
6
Jan-
07
Jul-0
7
Jan-
Jul-0
8
Jan-
Jul-0
9
Jan-
10
Jul-1
0
Jan-
11
Jul-1
1
Jan-
12
Jul-1
2
Jan-
13
Jul-1
3
Jan-
14
Jul-1
4
Jan-
15
SERIES: Unsold Inventory Index of Existing Single Family HomesSOURCE: 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. Theremaining inventory for the month is defined as the number of properties that were Active, Pending, and Contingent (when available) anddivide the sum by the number of Sold properties for the month in question.
Price Range (Thousand) May-15 Apr-15 May-14
$1,000K+ 4.5 4.5 4.7
$750-999K 3.9 3.5 3.9
$500-749K 3.4 3.4 3.5
$400-499K 3.3 3.1 3.4
$300-399K 3.2 3.2 3.5
$200-299K 3.2 3.4 3.4
$0-199K 3.3 3.3 3.3
SERIES: Unsold Inventory Index of Existing Single Family HomesSOURCE: CALIFORNIA ASSOCIATION OF REALTORS
INVENTORY DROPPED SIGNIFICANTLYIN 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. Theremaining inventory for the month is defined as the number of properties that were Active, Pending, and Contingent (when available) anddivide the sum by the number of Sold properties for the month in question.
2.2
3.53.8
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 HomesSOURCE: CALIFORNIA ASSOCIATION OF REALTORS
SERIES: Inventory of Existing Single Family HomesSOURCE: CALIFORNIA ASSOCIATION OF REALTORS
CHANGE IN INVENTORY BY PRICE RANGE
(Year-to-Year)
-15.0%
1.9%
-3.4%
4.9% 5.7%
10.4% 9.9%
-20%
-10%
0%
10%
20%
May-15
HOME PRICE APPRECIATIONS HAVE MODERATED SINCEMID 2013
-50%
-40%
-30%
-20%
-10%
0%
10%
20%
30%
40%
50%
Jan-
05
Jul-0
5
Jan-
06
Jul-0
6
Jan-
07
Jul-0
7
Jan-
08
Jul-0
8
Jan-
09
Jul-0
9
Jan-
10
Jul-1
0
Jan-
11
Jul-1
1
Jan-
12
Jul-1
2
Jan-
13
Jul-1
3
Jan-
14
Jul-1
4
Jan-
15
Condo Single-Family Homes
SERIES: Sales of SFH and Condo UnitsSOURCE: CALIFORNIA ASSOCIATION OF REALTORS
YTY% Chg. in Price
CA MEDIAN PRICE (EXISTING SFH)
SERIES: Median Price, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS
-15%
-10%
-5%
0%
5%
10%
15%
Jan-
05
Jun-
05
Nov
-05
Apr
-06
Sep-
06
Feb-
07
Jul-0
7
Dec
-07
May
-08
Oct
-08
Mar
-09
Aug
-09
Jan-
10
Jun-
10
Nov
-10
Apr
-11
Sep-
11
Feb-
12
Jul-1
2
Dec
-12
May
-13
Oct
-13
Mar
-14
Aug
-14
Jan-
15
Month-to-Month % Chg
PRICE PER SQUARE FOOT
May 2015: $226, Up -0.4% MTM, Up 3.2%YTY
$0
$50
$100
$150
$200
$250
$300
$350
$400
Jan-
07A
pr-0
7Ju
l-07
Oct
-07
Jan-
08A
pr-0
8Ju
l-08
Oct
-08
Jan-
09A
pr-0
9Ju
l-09
Oct
-09
Jan-
10A
pr-1
0Ju
l-10
Oct
-10
Jan-
11A
pr-1
1Ju
l-11
Oct
-11
Jan-
12A
pr-1
2Ju
l-12
Oct
-12
Jan-
13A
pr-1
3Ju
l-13
Oct
-13
Jan-
14A
pr-1
4Ju
l-14
Oct
-14
Jan-
15A
pr-1
5
PRICE PER SQ. FT.
SERIES: Median Price Per Square FeetSOURCE: CALIFORNIA ASSOCIATION OF REALTORS
SALES-TO-LIST RATIO
May 2015: 99.0%, Up 0.2% MTM, Up 0.2%YTY
99.0%
86%
88%
90%
92%
94%
96%
98%
100%
102%
Jan-
07A
pr-0
7Ju
l-07
Oct
-07
Jan-
08A
pr-0
8Ju
l-08
Oct
-08
Jan-
09A
pr-0
9Ju
l-09
Oct
-09
Jan-
10A
pr-1
0Ju
l-10
Oct
-10
Jan-
11A
pr-1
1Ju
l-11
Oct
-11
Jan-
12A
pr-1
2Ju
l-12
Oct
-12
Jan-
13A
pr-1
3Ju
l-13
Oct
-13
Jan-
14A
pr-1
4Ju
l-14
Oct
-14
Jan-
15A
pr-1
5
Sales-to-List Price Ratio
SERIES: Sales-to-List RatioSOURCE: CALIFORNIA ASSOCIATION OF REALTORS
HOUSING DEMAND OUTPACEDSUPPLY IN THE BAY AREA AND SO CAL
2%
6%8%
-13%
0%
4%
-20%
-10%
0%
10%
San Francisco Bay Area Southern California Central Valley
Sales Active ListingsYear-to-Year % Chg
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS
May 2015