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

2. Sales

3. Sales dropped below 400k, lowest in past 5 months
California, June 2019 Sales: 389,690 Units, -5.9% YTD, -5.1% YTY
*Sales are seasonally adjusted and annualized
SERIES: Sales of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

4. California home sales slowed faster than what previous month led to believe
*Sales are seasonally adjusted and annualized 4
SERIES: Sales of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

5. Bay Area sales decreased in June but trending upward
*Sales are not seasonally adjusted and annualized 5
SERIES: Sales of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

6. So. California sales still down but slowly trending up
*Sales are not seasonally adjusted and annualized
YoY % chg. 6
SERIES: Sales of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

7. Central Valley sales had biggest decline since Jan 2019
*Sales are not seasonally adjusted and annualized
YoY % chg. 7
SERIES: Sales of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

8. Sales down at every price point
June 2019 (YTY% Chg.)
SERIES: Sales of Existing Detached Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

9. Sales by Region

10. Pending sales bounced back
SERIES: Percent Change in Pending Sales
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

11. Price

12. California median price set a new high again in June 2019
California, June 2019: $611,420, +0.0% MTM, +1.4% YTY
SERIES: Median Price of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

13. Home prices inched up but the pace of growth slowed again in June
SERIES: Median Price of Existing Condo/Townhomes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

14. Condo/Townhome price inched up, highest since last July
California, June 2018: $476,500, June 2019: $480,000
SERIES: Median Price of Existing Condos/Townhomes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

15. CA Median Price (Existing SFH)15
SERIES: Median Price of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

16. Price/Square Foot unchanged from last month and inched up from last year
June 2019: $292, +0.0% MTM, Up 0.7% YTY
SERIES: Median Price Per Square Feet of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

17. Sales Price-to-List Price ratio dipped slightly as market moves through the peak of the season
June 2019: 99.2%, -0.1% MTM, -0.8% YTY
SERIES: Sales to List Ratio of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

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

19. Mortgage payment continued to drop; rates lowest in 31 months
SERIES: Price Growth vs. Mortgage Payment Growth
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

20. Mortgage payment continued to drop; rates lowest in 31 months
SERIES: Price Growth vs. Mortgage Payment Growth
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

21. List price growth vs. sales
SERIES: Sales to List Ratio of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

22. California Market Velocity and Price Growth
SERIES: Market Velocity & Price Growth
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

23. Inventory &
Active Listings

24. Inventory index up due primarily to dip in sales
June 2018: 3.0 Months; June 2019: 3.4 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®

25. Supply improved in all but the lowest 2 price segments
June 2019
SERIES: Active Listings of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

26. Regional inventory levels inched up from last year
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®

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

28. Active listings had smallest growth since Apr 2018
SERIES: Active Listing of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

29. Active listings increased in all regions except Central Valley
SERIES: Active Listings of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

30. Active listings in Central Valley dipped for the 1st time in 14 months
June 2019
SERIES: Sales and Listings of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

31. Active Listings by Month

32. Market Competitiveness

33. Time on Market ticked up in an unexpected rebound
California, June 2019: 19.0 Days
SERIES: Median Time of Market of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

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

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

36. Median sales vs. list price growth $1M+ properties
SERIES: Sales to List Ratio of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

37. Reduced-Price Listings
Share of Listings with a Reduced Price: 37.5%; Median Reduction Amount: -4.1%
SERIES: Listing Price of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

38. Growth in Reduced-Price Listings
Growth in Share of Listings with a Reduced Price: +2.8% Growth in Median Reduction Amount: -0.1%
SERIES: Listing Price of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

39. Thank You