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

Transcription

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

2 Sales Started with a Slight Decrease California, Jan Sales: 388,800 Units, -2.9% YTD, -2.9% YTY 700, , , , , , ,000 - Jan-17: 400,580 Jan-18: 388,800 SERIES: Sales of Existing Single Family Homes *Sales are seasonally adjusted and annualized

3 California Home Sales Showed Declines 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 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 Start with a Spike 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 Share of Homes Sold In Line with Jan-18 Jan % 16% 16% 17% 14% 14% 23% 21% 1 8% 1 1 9% 9% 8% 3% 3% SERIES: Sales of Existing Single Family Homes

8 Sales Improve in Mid and High Priced Markets But Decline in Lower Priced Segments January 2018 (Year-to-Year) 2 15% 1 5% 3.2% 8.9% 2.7% 13.3% 12.6% -5% % -15% % -25% % SERIES: Sales of Existing Detached Homes

9 CA Median Price Continued to Grow at a Fast Pace California, January 2018: $527,800, -4. MTM, +7.3% YTY $700,000 $600,000 P: May-07 $594,530 Jan-17: $491,840 Jan-18: $527,800 $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 Started Picking up in 2 nd Half of 2018 Condo Single-Family Homes 3 YTY% Chg. in Price SERIES: Median Price of Existing Single Family Homes

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 Foot Dipped from Recent Peak but Remained Elevated January 2018: $257, Down 3.3% MTM, Up 5.9% YTY $400 PRICE PER SQ. FT. $350 $300 $250 $200 $150 $100 $50 $0 Jan-17: $242 Jan-18: $257 SERIES: Median Price Per Square Feet of Existing Single Family Homes

13 Sales Price -to-list Price Up YTY January 2018: 98.7%, Even MTM, Up 0.6% YTY 10 Jan-17: 98.1% Jan-18: 98.7% Sales-to-List Price Ratio 98% 96% 94% 92% 9 SERIES: Sales to List Ratio of Existing Single Family Homes

14 Inventory at the Lowest Level since June 2004 January 2017: 3.7 Months; January 2018: 3.6 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 Remained on a Downward Trend January 2017: 3.7 Months; January 2018: 3.6 Months 15% Year-over-Year % Chg 1 5% -5% % -15% -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 Jan-18 Jan-17 SERIES: Unsold Inventory Index of Existing Single Family Homes

17 Supply Constraint Across All Price Ranges January 2018 Active Listing % -3.4% % -2.8% -1.4% % -4 SERIES: Active Listings of Existing Single Family Homes

18 Inventory Increases During January 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 Housing Supply Declined by Double-Digits in All Regions January 2018 Sales Active Listings 1 Year-to-Year % Chg 3% -3% -5% -5% -8% San Francisco Bay Area SERIES: Sales and Listings of Existing Single Family Homes Southern California Central Valley