MARKET PULSE February
Survey Methodology Monthly online survey of 300+ CA REALTORS® Respondents are asked about their last closed transaction and business activity in their market area for the previous month and the last year. 2
MARKET CONDITIONS 3
Number of Floor Calls Rising Q: Compared to last month, the number of floor calls from potential clients in your market area this month was … 4 SOURCE: CALIFORNIA ASSOCIATION OF REALTORS® Market Pulse Survey
Listing Appointments/Client Presentations Rising Q: Compared to last month, the number of listing appointments and presentations to clients in your market area this month was … 5 SOURCE: CALIFORNIA ASSOCIATION OF REALTORS® Market Pulse Survey
Open House Traffic Rising Q: Compared to last month/year, open house traffic in your market area this month was … 6 SOURCE: CALIFORNIA ASSOCIATION OF REALTORS® Market Pulse Survey
Auctions on the Rise Q: Compared to last month/year, the number of auctions in your market area this month was … 7 SOURCE: CALIFORNIA ASSOCIATION OF REALTORS® Market Pulse Survey
All Cash Purchases Down Slightly in February Q: Compared to last month/year, the number of all cash purchases in your market area this month was … 8 SOURCE: CALIFORNIA ASSOCIATION OF REALTORS® Market Pulse Survey
Lack of Housing Inventory Remains #1 Concern 9 Q: What is your biggest concern about the current real estate market? SOURCE: CALIFORNIA ASSOCIATION OF REALTORS® Market Pulse Survey
REALTORS® Remain Most Concerned About Inventory 10 Q: What is your biggest concern about the current real estate market? SOURCE: CALIFORNIA ASSOCIATION OF REALTORS® Market Pulse Survey
REALTORS® Optimistic about Market Conditions in 2016 Q: What are your expectations for market conditions over the next year? 11 SOURCE: CALIFORNIA ASSOCIATION OF REALTORS® Market Pulse Survey
Why REALTORS® Expect Market Conditions to Worsen Q: Why do you expect real estate market conditions to worsen over the next year? 12 SOURCE: CALIFORNIA ASSOCIATION OF REALTORS® Market Pulse Survey
LAST TRANSACTION 13
Most Properties Selling Below/At Asking Price Q: Did your last closed transaction sell over, at or below asking price? 14 SOURCE: CALIFORNIA ASSOCIATION OF REALTORS® Market Pulse Survey
Fewer Properties Selling Below Asking Price Q: Did your last closed transaction sell over, at or below asking price? 15 SOURCE: CALIFORNIA ASSOCIATION OF REALTORS® Market Pulse Survey
Premium Paid over Asking Price Rising Q: At what percentage was your last closed transaction sold over asking price? 16 SOURCE: CALIFORNIA ASSOCIATION OF REALTORS® Market Pulse Survey
% Paid Below Asking Price is Steady Q: At what percentage was your last closed transaction sold below asking price? 17 SOURCE: CALIFORNIA ASSOCIATION OF REALTORS® Market Pulse Survey
3/4 Properties Received Multiple Offers Q: How many offers did the seller in your last closed transaction receive? 18 SOURCE: CALIFORNIA ASSOCIATION OF REALTORS® Market Pulse Survey
Number of Offers Up Q: How many offers did your last closed transaction receive? 19 SOURCE: CALIFORNIA ASSOCIATION OF REALTORS® Market Pulse Survey
About ¼ Properties Had Listing Price Reductions Q: Were there any listing price reductions before escrow opened in your last closed transaction? 20 SOURCE: CALIFORNIA ASSOCIATION OF REALTORS® Market Pulse Survey
Proportion of Buyers Who Were Renters Rose Q: Was the buyer of your last closed transaction a renter immediately prior to purchasing the property? 21 SOURCE: CALIFORNIA ASSOCIATION OF REALTORS® Market Pulse Survey
More Sellers Became Renters Q: Did the seller of your last closed transaction become a renter immediately after selling the property? 22 SOURCE: CALIFORNIA ASSOCIATION OF REALTORS® Market Pulse Survey
Share of First-time Buyers Up in February Long Run Average: 31% Q: Was the buyer of your last closed transaction a first-time buyer? 23 SOURCE: CALIFORNIA ASSOCIATION OF REALTORS® Market Pulse Survey
Proportion of International Buyers Down in February Long Run Average: 6.0% Q: Was the buyer an international client (one who was not a citizen or permanent resident of the U.S.)? 24 SOURCE: CALIFORNIA ASSOCIATION OF REALTORS® Market Pulse Survey
Top 10 Counties Q: In which county do you live? 25 January 2016February Los Angeles 2San DiegoRiverside 3OrangeSan Diego 4SacramentoOrange 5RiversideSacramento 6Contra CostaSan Bernardino 7 Santa Clara 8San MateoAlameda 9PlacerContra Costa 10Sonoma SOURCE: CALIFORNIA ASSOCIATION OF REALTORS® Market Pulse Survey
What are REALTORS® Saying? Q: Do you have any specific comments, professional observations, or information that you would like to share with us--such as information on multiple bidding, changing buyer preferences, mortgage credit issues, or other topics? 26 SOURCE: CALIFORNIA ASSOCIATION OF REALTORS® Market Pulse Survey