California Housing Market Update. Monthly Sales and Price Statistics September 2018

Transcription

1 California Housing Market Update Monthly Sales and Price Statistics September 2018

2 Sales Had the Largest Decline since March 2014 California, September 2018 Sales: 382,550 Units, -3.3% YTD, -12.4% YTY 700, , , , , , ,000 - Sep-17: 427,460 Sep-18: 382,550 SERIES: Sales of Existing Single Family Homes *Sales are seasonally adjusted and annualized

3 California Home Sales Continued on a Declining Trend 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 Dec-17 SERIES: Sales of Existing Single Family Homes *Sales are seasonally adjusted and annualized

4 Bay Area Sales Down the Most in Nearly 8 Yrs. 3 Bay Area 6 per. Mov. Avg. (Bay Area) 2 YoY % chg % -3 SERIES: Sales of Existing Single Family Homes *Sales are not seasonally adjusted and annualized

5 Southern California Home Sales Had the Biggest Fall in All Regions YoY % chg. 4 So CA 6 per. Mov. Avg. (So CA) % -3 SERIES: Sales of Existing Single Family Homes *Sales are not seasonally adjusted and annualized

6 Central Valley Sales Declined by Double-Digit for the First Time since Early 2014 YoY % chg. 3 Central Valley 6 per. Mov. Avg. (Central Valley) SERIES: Sales of Existing Single Family Homes *Sales are not seasonally adjusted and annualized

7 Sales Declined in Every Segment September 2018 (Year-to-Year) -5% -1-15% -11.5% -3.9% -11.7% -2-25% % -16.9% -16.8% -16.2% -35% -33.2% SERIES: Sales of Existing Detached Homes

8 CA Median Price Continued to Grow but Had the Smallest Increase since Dec 2012 California, September 2018: $578,850, -2.9% MTM, +4.2% YTY $700,000 $600,000 P:May-07 $594,530 Sept-17: $555,400 Sept-18: $578,850 $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

9 Price Growth Continued to Moderate Condo Single-Family Homes YTY% Chg. in Price SERIES: Median Price of Existing Condo/Townhomes

10 $600,000 Condo/Townhome Median Price Inched Up from August Condo $500,000 $400,000 $300,000 $200,000 Sept-17: $450,400 Sept-18: $477,140 $100,000 $0 Jan-05 Jun-05 Nov-05 Apr-06 Sep-06 Feb-07 Jul-07 Dec-07 May-08 Oct-08 Mar-09 Aug-09 Jan-10 Jun-10 Nov-10 Apr-11 Sep-11 Feb-12 Jul-12 Dec-12 May-13 Oct-13 Mar-14 Aug-14 Jan-15 Jun-15 Nov-15 Apr-16 Sep-16 Feb-17 Jul-17 Dec-17 May-18 Median Price SERIES: Median Price of Existing Condos/Townhomes

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

12 Price Per Square Increased from Last Year, but Dipped Slightly from August September 2018: $282, Down 0.4% MTM, Up 4.4% YTY PRICE PER SQ. FT. $400 $350 $300 $250 $200 $150 $100 $50 $0 Sept-17: $270 Sept-18: $282 SERIES: Median Price Per Square Feet of Existing Single Family Homes

13 Sales Price -to-list Price Hit the Lowest Level in 20 Months September 2018: 98.5%, -0.5% MTM, -0.6% YTY 10 Sept-17: 99.1% Sept-18: 98.5% Sales-to-List Price Ratio 98% 96% 94% 92% 9 SERIES: Sales to List Ratio of Existing Single Family Homes

14 Time on Market Bounced Back California, September 2018: 23.0 Days DAYS ON MARKET SERIES: Median Time of Market of Existing Single Family Homes

15 Inventory Index Reached the Highest Level in 31 Months September 2017: 3.2 Months; September 2018: 4.2 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

16 Active Listings Continued to Increase for the 6 th Consecutive Month Year-over-Year % Chg 25% 2 15% 1 5% -5% -1-15% % SERIES: Active Listing of Existing Single Family Homes

17 Housing Supply Improved across the Board, Except for the Sub-$200k Price Segment Sept 2018 Active Listing % % 23.9% 26.4% 21.6% 7.1% 20.4% % SERIES: Active Listings of Existing Single Family Homes

18 Inventory Improved as Sales Continued to Fall 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 Active Listings Increased in All Regions Sept 2018 Sales Active Listings 5 44% 4 Year-to-Year % Chg % 13% 4% % San Francisco Bay Area -18% -14% -15% Southern California Central Valley Central Coast SERIES: Sales and Listings of Existing Single Family Homes