1. California Housing Market Update
Monthly Sales and Price Statistics
February 2019

2. Sales Highest in 6 Months
California, February 2019 Sales: 399,080 Units, -9.0% YTD, -5.6% YTY
Feb-18: 422,910
Feb-19: 399,080
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 down 10 Months in a Row
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 Still down but Had the Smallest Decline since Oct 2018
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. So. California Sales Declined, but Drop Less than 10% for the1st Time in 4 Months
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 Continues to Decline, but Decrease at a Slower Pace
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 All Price Segments
February 2019 (YTY% Chg.)
Data found in MPPA
SERIES: Sales of Existing Detached Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

8. Home Prices Continued to Grow but at a Very Modest Pace
California, February 2019: $534,140, -0.6% MTM, +2.2% YTY
Feb-19: $534,140
Feb-18: $522,440
SERIES: Median Price of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

9. Price Growth Remained near Lowest Level since Early 2012
From historical
SERIES: Median Price of Existing Condo/Townhomes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

10. Condo/Townhome Median Price Had Its First Year-over Year Dip since April 2012
Feb-18: $454,500
Feb-19: $450,000
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. List Price Suggests a Bounce Back in Sales Price Growth
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: 33.4%; Median Reduction Amount: -4.0%
From Jordan
SERIES: Listing Price of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

15. Price Per Square Inched Up from Last Year and Last Month
February 2019: $272, Up 3.0% MTM, Up 2.3% YTY
Feb-19: $272
Feb-18:
$266
SERIES: Median Price Per Square Feet of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

16. Sales Price -to-List Price Bounced Back after Hitting Lowest Level in Four Years
February 2019: 98.0%, +0.7% MTM, -1.2% YTY
Feb-18: 99.2%
Feb-19: 98.0%
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 Dipped from Prior Month for the First Time since March 2018
California, February 2019: 33.0 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 Highest in Three Years
February 2018: 3.9 Months; February 2019: 4.6 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 Had Smallest Growth in Six Months
Data from Sales vs Listings
SERIES: Active Listing of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

22. Price vs. Price/Sq. Ft Feb 2019 Data from UIPR
SERIES: Active Listings of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

23. Housing Supply Improved in All but the Lowest Price Segment
Feb 2019
Data from UIPR
SERIES: Active Listings of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

24. 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®

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

26. Active Listings Increased in All Regions
Feb 2019
Data from sales vs listings
SERIES: Sales and Listings of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

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

28. Active Listings by Month
From Jordan