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California Housing, Real Estate Market Update Shared by Howard E. Perry

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CAR April 2016 California Housing Market Update

Published in: Real Estate
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California Housing, Real Estate Market Update Shared by Howard E. Perry

  1. 1. CALIFORNIA HOUSING MARKET UPDATE Monthly Sales and Price Statistics March 2016
  2. 2. SALES OF EXISTING DETACHED HOMES California, Mar. 2016 Sales: 414,220 Units, +6.9% YTD, +5.7% YTY - 100,000 200,000 300,000 400,000 500,000 600,000 700,000 *Sales are seasonally adjusted and annualized SERIES: Sales of Existing Single Family Homes SOURCE: CALIFORNIA ASSOCIATION OF REALTORS® Mar16: 415,220 Mar-15: 392,660
  3. 3. CALIFORNIA SALES (JAN 2000 – PRESENT) SERIES: Sales of Existing Single Family Homes, Not Seasonally Adjusted SOURCE: CALIFORNIA ASSOCIATION OF REALTORS® -60% -40% -20% 0% 20% 40% 60% 80% 100% 120% 140% Year-over-Year % Chg 6 per. Mov. Avg. (Year-over-Year % Chg)
  4. 4. BAY AREA SALES (EXISTING SFH) SERIES: Sales, Not Seasonally Adjusted SOURCE: CALIFORNIA ASSOCIATION OF REALTORS® -30% -20% -10% 0% 10% 20% 30% Bay Area 6 per. Mov. Avg. (Bay Area)YoY % chg.
  5. 5. 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% 25% Central Valley 6 per. Mov. Avg. (Central Valley)YoY % chg.
  6. 6. SOUTHERN CALIFORNIA (EXISTING SFH) SERIES: Sales, Not Seasonally Adjusted SOURCE: CALIFORNIA ASSOCIATION OF REALTORS® -30% -25% -20% -15% -10% -5% 0% 5% 10% 15% 20% 25% So CA 6 per. Mov. Avg. (So CA)YoY % chg.
  7. 7. SALES SHARE BY PRICE RANGE 14% 18% 17% 14% 19% 9% 8% 3% 11% 18% 17% 14% 20% 9% 9% 3% 0% 10% 20% 30% Mar-15 Mar-16 SERIES: Sales of Existing Detached Homes SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
  8. 8. 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000 SALES OF CONDO UNITS California, Mar. 2016: 3,685 Units, +2.2% YTD, +1.1% YTY SERIES: Sales of Condo Units SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
  9. 9. MEDIAN PRICE OF EXISTING DETACHED HOMES California, Mar. 2016: $483,280, +8.9% MTM, +4.0% YTY $- $100,000 $200,000 $300,000 $400,000 $500,000 $600,000 $700,000 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® Mar-16: $483,280 Mar-15: $464,640
  10. 10. -50% -40% -30% -20% -10% 0% 10% 20% 30% 40% 50% Condo Single-Family Homes HOME PRICE APPRECIATIONS HAVE MODERATED SINCE MID 2013 SERIES: Sales of SFH and Condo Units SOURCE: CALIFORNIA ASSOCIATION OF REALTORS® YTY% Chg. in Price
  11. 11. CA MEDIAN PRICE (EXISTING SFH) SERIES: Median Price, Not Seasonally Adjusted SOURCE: CALIFORNIA ASSOCIATION OF REALTORS® -15% -10% -5% 0% 5% 10% 15% Month-to-Month % Chg
  12. 12. PRICE PER SQUARE FOOT Mar. 2016: $227, Up 4.1% MTM, Even 0% YTY $0 $50 $100 $150 $200 $250 $300 $350 $400 PRICE PER SQ. FT. SERIES: Median Price Per Square Feet SOURCE: CALIFORNIA ASSOCIATION OF REALTORS® Mar-16: $227 Mar-15: $227
  13. 13. SALES PRICE -TO-LIST PRICE RATIO Mar. 2016: 98.8%, Up 0.6% MTM, Up 0.3% YTY 86% 88% 90% 92% 94% 96% 98% 100% 102% Sales-to-List Price Ratio SERIES: Sales-to-List Ratio SOURCE: CALIFORNIA ASSOCIATION OF REALTORS® Mar-16: 98.8% Mar-15: 98.5%
  14. 14. INVENTORY CONTINUED TO DECLINE FROM LAST YEAR Mar. 2015: 3.6 Months; Mar. 2016: 3.8 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. 0.0 2.0 4.0 6.0 8.0 10.0 12.0 14.0 16.0 18.0 SERIES: Unsold Inventory Index of Existing Single Family Homes SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
  15. 15. 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. 3.2 4.4 4.1 0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 9.0 Bay Area So CA Central Valley SERIES: Unsold Inventory Index of Existing Single Family Homes SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
  16. 16. DEMAND INCREASED IN FEBRUARY BUT SUPPLY CONTINUED TO DECLINE -8% 1% 7% 3% -3% -9% -20% -10% 0% 10% San Francisco Bay Area Southern California Central Valley Sales Active ListingsYear-to-Year % Chg SOURCE: CALIFORNIA ASSOCIATION OF REALTORS® Mar. 2016

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