Le Lézard
Classified in: Business
Subjects: ECO, STP

California pending home sales drop to lowest level in six months in October, portending market softening as year winds down, C.A.R. reports


LOS ANGELES, Nov. 22, 2017 /PRNewswire-USNewswire/ -- California pending home sales shrank for the fourth consecutive month in October to post the lowest level in six months, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today.

CALIFORNIA ASSOCIATION OF REALTORS (PRNewsFoto/C.A.R.)

Even with the homebuying season winding down, REALTORS® reported slight increases in floor calls, open house traffic, and listing appointments/client presentations compared with a year ago, C.A.R.'s October Market Pulse Survey** found.

Pending home sales data:

Year-to-Year Change in Pending Sales by County/Region

County/Region/State

Oct. 2017

Oct. 2016

Yearly % Change

Counties




Kern

62.9

63.4

-0.8%

Los Angeles

78.2

82.1

-4.7%

Orange

67.8

71.3

-4.9%

Riverside

46.2

53.7

-14.0%

San Diego

109.5

123.6

-11.4%

San Bernardino

63.3

70.6

-10.4%

Monterey

59.7

61.7

-3.2%

Sacramento

63.8

68.3

-6.6%

San Francisco

111.2

96.7

15.1%

San Mateo

96.0

107.7

-10.9%

Santa Clara

70.6

89.8

-21.4%

Santa Cruz

123.4

110.9

11.3%





Regions




San Francisco Bay Area

129.9

145.1

-10.5%

Southern California

93.7

101.0

-7.3%

Central Valley

88.6

84.2

5.1%





California* (SA)

116.0

119.1

-2.6%

* Seasonally adjusted

October REALTOR® Market Pulse Survey**: 

Follow us on Twitter @CAR Media and @CAREALTORS®
Like us on Facebook, and check us out on Instagram.

*Note: C.A.R.'s pending sales information is generated from a survey of more than 70 associations of REALTORS® and MLSs throughout the state. Pending home sales are forward-looking indicators of future home sales activity, offering solid information on future changes in the direction of the market. A sale is listed as pending after a seller has accepted a sales contract on a property. The majority of pending home sales usually become closed sales transactions one to two months later. The year 2008 was used as the benchmark for the Pending Homes Sales Index. An index of 100 is equal to the average level of contract activity during 2008.

**C.A.R.'s Market Pulse Survey is a monthly online survey sent to more than 10,000 California REALTORS® to measure data about their last closed transaction and sentiment about business activity in their market area for the previous month. Nearly 300 REALTORS® responded.

Leading the way...® in California real estate for more than 110 years, the CALIFORNIA ASSOCIATION OF REALTORS® (www.car.org) is one of the largest state trade organizations in the United States with more than 190,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.

 

SOURCE CALIFORNIA ASSOCIATION OF REALTORS


These press releases may also interest you

at 07:05
Mannatech, Incorporated , a global health and wellness company committed to transforming lives to make a better world, today announced financial results for its fourth quarter and year ended December 31, 2023. Fourth Quarter Highlights Fourth...

at 07:02
Ginkgo Bioworks , which is building the leading platform for cell programming and biosecurity, today announced that it has been awarded a contract for up to $6 million from the Defense Advanced Research Projects Agency (DARPA) to achieve DARPA's...

at 07:00
Giyani Metals Corp. ("Giyani" or the "Company"), developer of the K.Hill battery-grade manganese project in Botswana ("K.Hill"), is pleased to announce that the TSX Venture Exchange ("TSXV") has conditionally approved the US$16 million facility...

at 07:00
Carbon Streaming Corporation (Cboe CA: NETZ) ("Carbon Streaming" or the "Company") today reported its financial results for the fiscal year ended December 31, 2023. All figures are expressed in United States dollars, unless otherwise indicated. The...

at 07:00
Telesat , one of the world's largest and most innovative satellite operators, today announced its financial results for the three-month and one-year periods ended December 31, 2023. All amounts are in Canadian dollars and reported under International...

at 07:00
Aya Gold & Silver Inc. ("Aya" or the "Corporation") is pleased to announce financial and operational results for the fourth quarter and year ended December 31, 2023. All amounts are in US dollars, unless otherwise stated. Annual Highlights...



News published on and distributed by: