California Housing Market Update. Monthly Sales and Price Statistics November 2017

Transcription

1 California Housing Market Update Monthly Sales and Price Statistics November 2017

2 Sales Decline YTY for the Third Straight Month California, Nov Sales: 440,340 Units, +1.5% YTD, -0.8% YTY 700, , , , , , ,000 - Nov-16: 443,960 Nov-17: 440,340 SERIES: Sales of Existing Single Family Homes *Sales are seasonally adjusted and annualized

3 California Home Sales Decrease 25% 2 15% 1 5% -5% -1-15% -2 Year-over-Year % Chg 6 per. Mov. Avg. (Year-over-Year % Chg) -25% Dec-09 Dec-10 Dec-11 Dec-12 Dec-13 Dec-14 Dec-15 Dec-16 SERIES: Sales of Existing Single Family Homes *Sales are seasonally adjusted and annualized

4 Bay Area Sales Increase Slightly 3 Bay Area 6 per. Mov. Avg. (Bay Area) 2 YoY % chg SERIES: Sales of Existing Single Family Homes *Sales are not seasonally adjusted and annualized

5 Southern California Home Sales Down 4 YoY % chg. So CA 6 per. Mov. Avg. (So CA) SERIES: Sales of Existing Single Family Homes *Sales are not seasonally adjusted and annualized

6 Central Valley Sales Declines 3 YoY % chg. Central Valley 6 per. Mov. Avg. (Central Valley) SERIES: Sales of Existing Single Family Homes *Sales are not seasonally adjusted and annualized

7 More Homes Sell Above the Half-Million Mark When Compared to Nov-17 Nov % 8% 15% 17% 16% 17% 14% 14% 23% 21% 11% 12% 1 1 4% 3% SERIES: Sales of Existing Single Family Homes

8 Sales Improve in Mid and High Priced Markets But Decline in Lower Priced Segments October 2017 (Year-to-Year) % 21.5% 33.2% % -14.4% -7.2% -7.2% SERIES: Sales of Existing Detached Homes

9 CA Median Price Continues to Grow YTY California, November 2017: $546,820, +0.1% MTM, +8.8% YTY $700,000 $600,000 P: May-07 $594,530 Nov-16: $502,490 Nov-17: $546,820 $500,000 $400,000 $300,000 T: Feb-09 $245,230-59% from peak $200,000 $100,000 $- SERIES: Median Price of Existing Single Family Homes

10 5 4 Home Price Appreciations Have Moderated Since Mid 2013 Condo Single-Family Homes 3 YTY% Chg. in Price SERIES: Median Price of Existing Single Family Homes

11 CA Median Price (Existing SFH) Month-to-Month % Chg 15% 1 5% -5% -1-15% SERIES: Median Price of Existing Single Family Homes

12 Price Per Square Foot Highest Since 2007 November 2017: $277, Up 2.5% MTM, Up 8.9% YTY $400 $350 PRICE PER SQ. FT. $300 $250 $200 $150 $100 $50 $0 SERIES: Median Price Per Square Feet of Existing Single Family Homes Nov-16: $254 Nov-17: $277

13 Sales Price -to-list Price Continues to Decline November 2017: 98.9%, Even MTM, Up 0.7% YTY Sales-to-List Price Ratio 10 98% 96% 94% 92% 9 SERIES: Sales to List Ratio of Existing Single Family Homes Nov-16: 98.2% Nov-17: 98.9%

14 Inventory Declines Annually for the 16th Consecutive Month November 2016: 2.9 Months; November 2017: 3.1 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

15 Supply Remains on a Downward Trend November 2016: 2.9 Months; November 2017: 3.1 Months Year-over-Year % Chg 15% 1 5% -5% -1-15% -11.5% -2 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

16 Inventory Index Highest in Millions Nov-17 SERIES: Unsold Inventory Index of Existing Single Family Homes Nov

17 Supply Constraint Across All Price Ranges November 2017 Active Listing -0.8% % -14.4% % -4 SERIES: Active Listings of Existing Single Family Homes -9.6% -8.3% -7.1% -11.4%

18 Inventory Continued to Drop Across All Regions 9.0 Bay Area So CA Central Valley 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

19 Supply Saw Declines, Especially in Bay Area October 2017 Sales Active Listings Year-to-Year % Chg 1 1% -2% -4% -7% -1-14% -2-19% San Francisco Bay Area SERIES: Sales and Listings of Existing Single Family Homes Southern California Central Valley