1. California Housing Market Update
Monthly Sales and Price Statistics
October 2018

2. Sales Had the 2nd Largest Drop in the Last 6 Months
California, October 2018 Sales: 397,060 Units, -3.7% YTD, -7.9% YTY
Oct-17: 431,070
Oct-18: 397,060
Peak:624,957 units in 2005
Valley:189,345 units in 1982
2012 annual sales up 4.3% from 2011
2011 annual sales up 1.4% from 2010
2010 annual sales down 12.3% from 2009
2009 annual sales up 24.5% from 2008
2008 annual sales up 30.4% from 2007
2007 annual sales down 33.4% from 2006
2006 annual sales down 23.8% from 2005
2005 annual sales up 0.8% from 2004
2004 annual sales up 3.8% from 2003
2003 annual sales up 7.6% from 2002
2002 annual sales up 14.1% from 2001
2001 annual sales down 4.7% from 2000 YTD
2000 annual sales up 1.4 from 1999
1999 sales up 7.3% over 1998
10/93: 41.0
Consumer Confidence
01/00:
03/03: 63.0
5/07: 128.4
2/09: 23.9
SERIES: Sales of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
*Sales are seasonally adjusted and annualized

3. California Home Sales Continued on a Declining Trend
Data from historical file
SERIES: Sales of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
*Sales are seasonally adjusted and annualized 3

4. Bay Area Sales Bounced Back but Still Down from Last Year
Data from historical file
SERIES: Sales of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
*Sales are not seasonally adjusted and annualized 4

5. Southern California Home Sales Continued to Have the Biggest Fall among All Regions
YoY % chg.
Data from historical file
SERIES: Sales of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
*Sales are not seasonally adjusted and annualized 5

6. Central Valley Sales Remained on a Declining Trend in October
YoY % chg.
Data from historical file
SERIES: Sales of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
*Sales are not seasonally adjusted and annualized 6

7. Sales Declined in Sub-Million Dollar Markets
October 2018 (Year-to-Year)
Data found in MPPA
SERIES: Sales of Existing Detached Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

8. Home Prices Continued to Grow but at a More Moderate Pace
California, October 2018: $572,000, -1.2% MTM, +4.7% YTY
Oct-18: $572,000
Oct-17: $546,430
SERIES: Median Price of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

9. Prices Growing at Mid Single-Digit Rate
From historical
SERIES: Median Price of Existing Condo/Townhomes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

10. Condo/Townhome Median Price Leveling off as Markets Move into Off Season
Oct-18: $476,440
Oct-17: $450,880
SERIES: Median Price of Existing Condos/Townhomes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

11. CA Median Price (Existing SFH)
SERIES: Median Price of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS® 11

12. Year-over-Year Price Growth by Percentile
From Jordan
SERIES: Median Price of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

13. Slow Growth in List Price Suggests Sales Price Tapering Off in the Near Term
SERIES: Sales to List Ratio of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

14. Reduced-Price Listings
Share of Listings with a Reduced Price: 43.6%; Median Reduction Amount: -4.4%
From Jordan
SERIES: Listing Price of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

15. Price Per Square Increased from Last Year, but Virtually Unchanged from September
October 2018: $282, Down 0.0% MTM, Up 4.4% YTY
Oct-18: $282
Oct-17:
$270
SERIES: Median Price Per Square Feet of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

16. Sales Price -to-List Price Hit the Lowest Level in 21 Months
October 2018: 98.1%, -0.4% MTM, -0.8% YTY
Oct-17: 98.9%
Oct-18: 98.1%
SERIES: Sales to List Ratio of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

17. Sales-to-List Price Ratio by Percentile
From Jordan
SERIES: Sales to List Ratio of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

18. Time on Market Rises as the Market Slows
California, October 2018: 26.0 Days
Range since 1988:
Low days in May 2004
High – 93 days in Feb 1993
SERIES: Median Time of Market of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

19. Median Time on Market by Percentile
From Jordan
SERIES: Median Time on Market of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

20. Inventory Index Dipped from September as Sales Climbed from Prior Month
October 2017: 3.0 Months; October 2018: 3.6 Months
Range since 1988:
Low: 1.3 months in May 2004
High: 18.8 months in Apr 1991
Long-run average: 6.9 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.
SERIES: Unsold Inventory Index of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

21. Active Listings Continued to Increase for the 7th Consecutive Month
Data from Sales vs Listings
SERIES: Active Listing of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

22. Housing Supply Improved across the Board, Except for the Sub-$200k Price Segment
Oct 2018
Data from UIPR
SERIES: Active Listings of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

23. Inventory Improved as Sales Continued to Fall
Data from historical
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®

24. Active Listings Increased in All Regions
Data from sales vs listings
SERIES: Active Listings of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

25. Active Listings Increased in All Regions
Oct 2018
Data from sales vs listings
SERIES: Sales and Listings of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

26. Inventory Index Highest in Millions
Data from UIPR
SERIES: Unsold Inventory Index of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

27. Active Listings by Month
From Jordan