1st Quarter 2016 vs. 2015 Truckee / Lake Tahoe Statistics

Tahoe Donner Home Prices 2011 - 2016

Tahoe Donner Home Prices 2011 – 2016 based on 2500-3500 sq. ft. and built 2000-2010

 

Truckee / Lake Tahoe 1st qtr 2016 Real Estate Statistics

Truckee / Lake Tahoe 1st qtr. 2016 Real Estate Statistics compared to 1st qtr. 2015

SUMMARY

  • For the 1st quarter of 2016, 16% more homes were sold than the 1st quarter in 2015;
  • The median price for homes increased by 8.9%;
  • Overall, the median time homes were on the market was unchanged at 3-months;
  • A comparison of the similar homes sold in Tahoe Donner reveals the price per square foot rose approximately 8% in the 1st quarter of 2016 compared to 2015 (see graph).

Please call Scott Kennedy at (530) 448-3308, or email Scott@SierraTahoeRealty.com with any questions you may have.

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Schaffer’s Mill real estate for sale
 
 
 
 
NOTE: MLS data is believed accurate however not guaranteed – verification is recommended.

2015 vs 2014 Truckee / Lake Tahoe Statistical Report

Tahoe Donner Real Estate Statistics

Tahoe Donner Real Estate Statistics

Truckee / Lake Tahoe Real Estate Statistics - 2015 vs. 2014

SUMMARY
  • For 2015, 7% more homes were sold than in 2014 – however, ski resort sales (Alpine Meadows, Northstar & Squaw Valley) were 30-50% fewer due to less snow;
  • While the median price for homes decreased by $10,000 or 2%, it is a misleading statistic;
  • A comparison of the similar homes sold in Tahoe Donner reveals the price per square foot rose approximately 5% in 2015 compared to 2014 (see graph).
  • Condo sales in Tahoe Donner provide the best indicator of overall change in valuation, as neighborhood statistics in other areas can be skewed by higher or lower price-points – an example being the Westshore which is skewed greatly by $2-$3 million condos in Fleur du Lac.
Feel free to call or email Scott Kennedy with any questions you may have.
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NOTE: Tahoe Donner $ / sq. ft. data based on subset of homes 2500-3500 sq. ft. built between 2000-2010.  MLS data is believed accurate however not guaranteed – verification is recommended.

NEVADA COUNTY MARKET UPDATE

Nevada County Real Estate Statistics - December 2015

Nevada County Real Estate Statistics – December 2015

Placer County Market Update

Placer County Real Estate Statistics - December 2015

California pending home sales bounce back in October 2015

Southern California and Bay Area regions rise, Central Valley posts lower

LOS ANGELES (Nov. 24) – Pending home sales bounced back from the previous month at the statewide level in October, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today. Pending sales were also significantly higher on an annual basis, portending higher closed escrows in the next couple of months.

In a separate report, California REALTORS® responding to C.A.R.’s October Market Pulse Survey saw a nominal increase in sales with multiple offers compared with September and an increase in the number of offers received. The number of floor calls and open house traffic declined, however, primarily reflecting seasonal factors as the market enters the end of the home-buying season. The Market Pulse Survey is a monthly online survey of more than 300 California REALTORS®, which measures data about their last closed transaction and sentiment about business activity in their market area for the previous month and the last year.

Pending home sales data:

• Statewide pending home sales increased in October, with the Pending Home Sales Index (PHSI)* rising 2.5 percent from a revised 110.7 in September to 113.4 in October, based on signed contracts. The month-to-month gain was better than the average increase of 0.9 percent from September to October observed in the last seven years.

• On an annual basis, statewide pending home sales were up 13.9 percent from the revised 99.5 index recorded in October 2014. Pending sales have been increasing on a year-over-year basis since November 2014 and have seen double-digit increases for nine straight months.

• At the regional level, pending sales were higher on a year-over-year basis in all areas, with Southern California and Central Valley both increasing at a double-digit rate compared to last October.

• San Francisco Bay Area pending sales rose 16.3 percent to reach an index of 145.6 in October, up from September’s 125.2 and up 16.1 percent from October 2014’s 125.4 index.

• Pending home sales in Southern California increased to 94.3 in October, up 9.8 percent from 85.9 in September and up 9 percent from an index of 86.5 a year ago.

• Central Valley pending sales dropped in October to reach an index of 89.5, down 13.9 percent from September’s 103.9 index but up 18.6 percent from October 2014’s 75.5 index.

Equity and distressed housing market data:

• The share of equity sales – or non-distressed property sales – dipped in October but remained at the highest levels since the fall of 2007. Equity sales now make up 93.7 percent of all sales, up from 91.5 percent a year ago.

• The combined share of all distressed property sales (REOs and short sales) edged up in October to 6.3 percent of total sales, but was down from 8.5 percent a year ago.

• Fifteen of the 44 counties that C.A.R. reports showed month-to-month decreases in their share of distressed sales, with Mariposa having the smallest share of distressed sales at 0 percent, followed by San Francisco (0.4 percent), San Mateo (0.8 percent), and Santa Cruz (1.3 percent). Madera had the highest share of distressed sales at 19 percent, followed by Siskiyou (16.4 percent), Yuba (12.1 percent), and Tulare (11.9 percent).

October REALTOR® Market Pulse Survey**:

• More than one in four homes (27 percent) closed above asking price in October, and nearly half (47 percent) closed below asking price. One-fourth (25 percent) closed at asking price.

• For the one in four homes that sold above asking price, the premium paid over asking price fell to an average of 8.9 percent, down from 11 percent in September and up from 8.4 percent in October 2014.

• The 46 percent of homes that sold below asking price sold for an average of 12 percent below asking price in October, up from 10 percent in September and up from 6.3 percent in October 2014.

• About two-thirds (64 percent) of properties received multiple offers in October, indicating the market remains competitive. Fifty-one percent of properties received multiple offers in October 2014.

• The average number of offers per property increased to 3.2 in October, up from 2.4 in September and up from 2.3 in October 2014.

• With home prices leveling off in recent months, more sellers are adjusting their listing price to become more in line with buyers’ expectations. One-third (32 percent) of properties had price reductions in October, the highest level reached in the last 12 months.

• REALTOR® respondents reported that floor calls, listing appointments, and open house traffic all declined in October, mostly due to seasonal factors.

• When asked what REALTORS®’ biggest concerns are, more than one in five (22 percent) said low housing affordability, 21 percent indicated a lack of housing inventory, 16 percent cited overinflated home prices, and 12 percent said a slowdown in economic growth.

• On a positive note, four of five REALTORS® believe market conditions will either improve or remain the same next year.

Graphics (click links to open):

• Pending home sales by region.
• More transactions closing above asking price.
• Premium paid over asking price declines.
• REALTORS®’ expectations of market conditions.

*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 becomes 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 of more than 300 California REALTORS® to measure data about their last closed transaction and sentiment about business activity in their market area for the previous month and the last year.

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 175,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.

Truckee / Lake Tahoe Real Estate Statistics

Information provided by the Tahoe Sierra Multiple Listing Service, Inc. is deemed reliable, but not guaranteed. For assistance, please consult a real estate professional.

2015 Quarterly Statistics
1st Quarter 2015 Totals by Area
1st Quarter 2015 Sold Analysis
2nd Quarter 2015 Totals by Area
2nd Quarter 2015 Sold Analysis
3rd Quarter 2015 Totals by Area
3rd Quarter 2015 Sold Analysis

2015 Monthly Statistics
January 2015
February 2015
March 2015
April 2015
May 2015
June 2015
July 2015
August 2015
September 2015
October 2015

2014 Annual Statistics
2014 Totals by Area
2014 Sold Analysis

2014 Quarterly Statistics
1st Quarter 2014 Totals by Area
1st Quarter 2014 Sold Analysis
2nd Quarter 2014 Totals by Area
2nd Quarter 2014 Sold Analysis
3rd Quarter 2014 Totals by Area
3rd Quarter 2014 Sold Analysis
4th Quarter 2014 Totals by Area
4th Quarter 2014 Sold Analysis

2014 Monthly Statistics
January 2014
February 2014
March 2014
April 2014
May 2014
June 2014
July 2014
August 2014
September 2014
October 2014

2013 Annual Statistics
2013 Totals by Area
2013 Sold Analysis

2013 Quarterly Statistics
1st Quarter 2013 Totals by Area
1st Quarter 2013 Sold Analysis
2nd Quarter 2013 Totals by Area
2nd Quarter 2013 Sold Analysis
3rd Quarter 2013 Totals by Area
3rd Quarter 2013 Sold Analysis
4th Quarter 2013 Totals by Area
4th Quarter 2013 Sold Analysis

2013 Monthly Statistics
January 2013
February 2013
March 2013
April 2013
May 2013
June 2013
July 2013
August 2013
September 2013
October 2013
November 2013
December 2013

2012 Annual Statistics
2012 Totals by Area
2012 Sold Analysis

2012 Quarterly Statistics
1st Quarter 2012 Totals by Area
1st Quarter 2012 Sold Analysis
2nd Quarter 2012 Totals by Area
2nd Quarter 2012 Sold Analysis
3rd Quarter 2012 Totals by Area
3rd Quarter 2012 Sold Analysis
4th Quarter 2012 Totals by Area
4th Quarter 2012 Sold Analysis

2012 Monthly Statistics
January 2012 Sales Statistics
February 2012 Sales Statistics 
March 2012 Sales Statistics
April 2012 Sales Statistics
May 2012 Sales Statistics
June 2012 Sales Statistics
July 2012 Sales Statistics
August 2012 Sales Statistics
September 2012 Sales Statistics
October 2012 Sales Statistics
November 2012 Sales Statistics
December 2012 Sales Statistics

2011 Annual Statistics
2011 Totals by Area
2011 Sold Analysis

2011 Quarterly Statistics
1st Quarter 2011 Totals by Area
1st Quarter 2011 Sold Analysis
2nd Quarter 2011 Totals by Area
2nd Quarter 2011 Sold Analysis
3rd Quarter 2011 Totals by Area
3rd Quarter 2011 Sold Analysis
4th Quarter 2011 Totals by Area
4th Quarter 2011 Sold Analysis

2011 Monthly Statistics
January 2011 Sales Statistics
February 2011 Sales Statistics
March 2011 Sales Statistics
April 2011 Sales Statistics
May 2011 Sales Statistics
June 2011 Sales Statistics
July 2011 Sales Statistics
August 2011 Sales Statistics
September 2011 Sales Statistics
October 2011 Sales Statistics
November 2011 Sales Statistics
December 2011 Sales Statistics

2010 Annual Statistics
2010 Totals by Area
2010 Sold Analysis

2010 Quarterly Statistics
1st Quarter 2010 Totals by Area
1st Quarter 2010 Sold Analysis
2nd Quarter 2010 Totals by Area
2nd Quarter 2010 Sold Analysis
3rd Quarter 2010 Totals by Area
3rd Quarter 2010 Sold Analysis
4th Quarter 2010 Totals by Area
4th Quarter 2010 Sold Analysis

2010 Monthly Statistics
January 2010 Sales Statistics
February 2010 Sales Statistics
March 2010 Sales Statistics
April 2010 Sales Statistics
May 2010 Sales Statistics
June 2010 Sales Statistics
July 2010 Sales Statistics
August 2010 Sales Statistics
September 2010 Sales Statistics
October 2010 Sales Statistics
November 2010 Sales Statistics
December 2010 Sales Statistics

2009 Annual Statistics
2009 Totals by Area
2009 Sold Analysis

2009 Quarterly Statistics
1st Quarter 2009 Totals by Area
1st Quarter 2009 Sold Analysis
2nd Quarter 2009 Totals by Area
2nd Quarter 2009 Sold Analysis
3rd Quarter 2009 Totals by Area
3rd Quarter 2009 Sold Analysis
4th Quarter 2009 Totals by Area
4th Quarter 2009 Sold Analysis

2009 Monthly Statistics
January 2009 Sales Statistics
February 2009 Sales Statistics
March 2009 Sales Statistics
April 2009 Sales Statistics
May 2009 Sales Statistics
June 2009 Sales Statistics
July 2009 Sales Statistics
August 2009 Sales Statistics
September 2009 Sales Statistics
October 2009 Sales Statistics
November 2009 Sales Statistics
December 2009 Sales Statistics

2008 Annual Statistics
2008 Totals by Area
2008 Sold Analysis

2008 Quarterly Statistics
1st Quarter 2008 Totals by Area
1st Quarter 2008 Sold Analysis
2nd Quarter 2008 Totals by Area
2nd Quarter 2008 Sold Analysis
3rd Quarter 2008 Totals by Area
3rd Quarter 2008 Sold Analysis
4th Quarter 2008 Totals by Area
4th Quarter 2008 Sold Analysis
2nd Quarter 2008 Sold Analysis

2008 Monthly Statistics
January 2008 Sales Statistics
February 2008 Sales Statistics
March 2008 Sold Statistics
April 2008 Sold Statistics
May 2008 Sold Statistics
June 2008 Sold Statistics
July 2008 Sales Statistics
August 2008 Sales Statistics
September 2008 Sales Statistics
October 2008 Sales Statistics
November 2008 Sales Statistics
December 2008 Sales Statistics

2007 Annual Statistics
2007 Sold Analysis
2007 Totals by Area

2007 Monthly Statistics
January 2007 Sales Statistics
February 2007 Sales Statistics
March 2007 Sales Statistics
April 2007 Sales Statistics
May 2007 Sales Statistics
June 2007 Sales Statistics
July 2007 Sales Statistics
August 2007 Sales Statistics
September 2007 Sales Statistics
October 2007 Sales Statistics
November 2007 Sales Statistics
December 2007 Sales Statistics

2007 Quarterly Statistics
1st Quarter 2007 Totals by Area
1st Quarter 2007 Sold Analysis
2nd Quarter 2007 Totals by Area
2nd Quarter 2007 Sold Analysis
3rd Quarter 2007 Totals by Area
3rd Quarter 2007 Sold Analysis
4th Quarter 2007 Sold Analysis
4th Quarter 2007 Totals by Area

2006 Monthly Statistics
January 2006 Sales Statistics
February 2006 Sales Statistics
March 2006 Sales Statistics
April 2006 Sales Statistics
May 2006 Sales Statistics
June 2006 Sales Statistics
July 2006 Sales Statistics
August 2006 Sales Statistics
September 2006 Sales Statistics
October 2006 Sales Statistics
November 2006 Sales Statistics
December 2006 Sales Statistics

2006 Quarterly Statistics
1st Quarter 2006 Sold Analysis
1st Quarter 2006 Totals by Area
2nd Quarter 2006 Sold Analysis
2nd Quarter 2006 Totals by Area
3rd Quarter 2006 Sold Analysis
3rd Quarter 2006 Totals by Area
4th Quarter 2006 Sold Analysis
4th Quarter 2006 Totals by Area

2006 Annual Statistics
2006 Sold Analysis
2006 Totals by Area

2005 Monthly Statistics
January 2005 Sales Statistics
February 2005 Sales Statistics
March 2005 Sales Statistics
April 2005 Sales Statistics
May 2005 Sales Statistics
June 2005 Sales Statistics
July 2005 Sales Statistics
August 2005 Sales Statistics
September 2005 Sales Statistics
October 2005 Sales Statistics
November 2005 Sales Statistics
December 2005 Sales Statistics

2005 Quarterly Statistics
1st Quarter 2005 Totals by Area
1st Quarter 2005 Sold Analysis
2nd Quarter 2005 Totals by Area
2nd Quarter 2005 Sold Analysis
3rd Quarter 2005 Totals by Area
3rd Quarter 2005 Sold Analysis
4th Quarter 2005 Totals by Area
4th Quarter 2005 Sold Analysis

2005 Annual Statistics
2005 Totals by Area
2005 Sold Analysis

2004 Monthly Statistics
January 2004 Sales Statistics
February 2004 Sales Statistics
March 2004 Sales Statistics
April 2004 Sales Statistics
May 2004 Sales Statistics
June 2004 Sales Statistics
July 2004 Sales Statistics
August 2004 Sales Statistics
September 2004 Sales Statistics
October 2004 Sales Statistics
November 2004 Sales Statistics
December 2004 Sales Statistics

2004 Quarterly Statistics
1st Quarter 2004 Totals by Area
1st Quarter 2004 Sold Analysis
2nd Quarter 2004 Totals by Area
2nd Quarter 2004 Sold Analysis
3rd Quarter 2004 Totals by Area
3rd Quarter 2004 Sold Analysis
4th Quarter 2004 Totals by Area
4th Quarter 2004 Sold Analysis

2004 Annual Statistics
2004 Sold Analysis
2004 Totals by Area

Placer County Real Estate Market Statistics

Placer County Real Estate Market Statistics

Placer County Real Estate Market Statistics

Nevada County Real Estate Market Statistics

Nevada County Real Estate Market Statistics

Nevada County Real Estate Market Statistics

2016 Economic & Market Forecast

C.A.R. releases its 2016 housing market forecast

For release:
October 8, 2015

C.A.R. releases its 2016 California Housing Market Forecast

California home sales to increase slightly, while prices post slowest gain in five years

LOS ANGELES (Oct. 8) – California’s housing market will continue to improve into 2016, but a shortage of homes on the market and a crimp in housing affordability also will persist, according to the CALIFORNIA ASSOCIATION OF REALTORS®’ (C.A.R.) “2016 California Housing Market Forecast,” released today.

The C.A.R. forecast sees an increase in existing home sales of 6.3 percent next year to reach 433,000 units, up from the projected 2015 sales figure of 407,500 homes sold.  Sales in 2015 also will be up 6.3 percent from the 383,300 existing, single-family homes sold in 2014.

“Solid job growth and favorable interest rates will drive a strong demand for housing next year,” said C.A.R. President Chris Kutzkey.  “However, in regions where inventory is tight, such as the San Francisco Bay Area, sales growth could be limited by stiff market competition and diminishing housing affordability. On the other hand, demand in less expensive areas such as Solano County, the Central Valley, and Riverside/San Bernardino areas will remain strong thanks to solid job growth in warehousing, transportation, logistics, and manufacturing in these areas.”

C.A.R.’s forecast projects growth in the U.S. Gross Domestic Product of 2.7 percent in 2016, after a projected gain of 2.4 percent in 2015.  With nonfarm job growth of 2.3 percent in California, the state’s unemployment rate should decrease to 5.5 percent in 2016 from 6.3 percent in 2015 and 7.5 percent in 2014.

The average for 30-year, fixed mortgage interest rates will rise only slightly to 4.5 percent but will still remain at historically low levels.

The California median home price is forecast to increase 3.2 percent to $491,300 in 2016, following a projected 6.5 percent increase in 2015 to $476,300.  This is the slowest rate of price appreciation in five years.

“The foundation for California’s housing market remains strong, with moderating home prices, signs of credit easing, and the state continuing to lead the nation in economic and job growth,” said C.A.R. Vice President and Chief Economist Leslie Appleton-Young. “However, the global economic slowdown, financial market volatility, and the anticipation of higher interest rates are some of the challenges that may have an adverse impact on the market’s momentum next year. Additionally, as we see more sales shift to inland regions of the state, the change in mix of sales will keep increases in the statewide median price tempered.”

2016 California Housing Market Forecast

  2010 2011 2012 2013 2014 2015p 2016f
SFH Resales (000s) 416.5 422.6 439.8 414.9 383.3 407.5 433.0
% Change -12.30% 1.40% 4.10% -5.90% -7.60% 6.30% 6.30%
Median Price ($000s) $305.0 $286.0 $319.3 $407.2 $447.0 $476.3 $491.3
% Change 10.9% -6.2% 11.6% 27.5% 9.8% 6.5% 3.2%
Housing Affordability Index 48% 53% 51% 36% 30% 31% 27%
30-Yr FRM 4.70% 4.50% 3.70% 4.00% 4.20% 3.90% 4.50%

p = projected
f = forecast

Leading the way …® in real estate news and information 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 175,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.

September pending sales and Market Pulse Survey

For release:
October 22, 2015

California pending home sales a mixed bag in September

Central Valley and Bay Area regions move higher, Southern California records drop

LOS ANGELES (Oct. 22) – Pending home sales results varied across California in September, decreasing statewide and in Southern California, but increasing in the Central Valley and San Francisco Bay Area, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today. All regions recorded year-over-year improvements, though.

In a separate report, California REALTORS® responding to C.A.R.’s September Market Pulse Survey saw an increase in sales with multiple offers compared with August and an increase in all cash purchases. However, floor calls and open house traffic declined, reflecting seasonal factors as the market enters the end of the home-buying season. The Market Pulse Survey is a monthly online survey of more than 300 California REALTORS®, which measures data about their last closed transaction and sentiment about business activity in their market area for the previous month and the last year.

Pending home sales data:

• Statewide pending home sales decreased in September, with the Pending Home Sales Index (PHSI)* decreasing 1.5 percent from a revised 112.4 in August to 110.8 in September, based on signed contracts. The month-to-month decline was better than the average August- to-September loss of 3.4 percent observed in the last seven years.

• On an annual basis, statewide pending home sales were up 10.9 percent from the revised 99.9 index recorded in September 2014. Pending sales have been increasing on a year-over-year basis since September 2014 and have seen double-digit increases for eight straight months.

• At the regional level, pending sales were higher on a year-over-year basis in all areas, with Southern California and Central Valley both increasing by more than 10 percent over September a year ago.

• San Francisco Bay Area pending sales rose 4.6 percent to reach an index of 125.2 in September, up 4.6 percent from August’s 119.7 and up 4.6 percent from September 2014’s 119.7 index.

• Pending home sales in Southern California decreased to 85.9 in September, down 8.9 percent from 94.3 in August but up 10.2 percent from an index of 78 a year ago.

• Central Valley pending sales increased in September to reach an index of 103.9, up 4.6 percent from August’s 99.3 index and 14.1 percent from September 2014’s 91.1 index.

Equity and distressed housing market data:

• The share of equity sales – or non-distressed property sales – reached its highest level since the fall of 2007. Short sales continued to decline, while REO sales inched up slightly from August. Equity sales now make up 94.1 percent of all sales, up from 91.3 percent a year ago.

• Conversely, the combined share of all distressed property sales (REOs and short sales) fell in September to 5.9 percent of total sales, down from 8.7 percent a year ago.

• Twenty-one of the 44 counties that C.A.R. reports showed month-to-month decreases in their share of distressed sales, with Mendocino having the smallest share of distressed sales at 0 percent, followed by San Mateo (1 percent), San Francisco (1.3 percent) and Santa Clara (1.3 percent). Mariposa County had the highest share of distressed sales at 25 percent, followed by Lake (16.4 percent) and Tehama (15.8 percent).

September REALTOR® Market Pulse Survey**:

• Nearly one in four homes (23 percent) closed above asking price in September, but twice that amount (46 percent) closed below asking price, and nearly a third (31 percent) closed at asking price.

• For the one in four homes that sold above asking price, the premium paid over asking price increased to an average of 11 percent, up from 8.2 percent in August and up from 8.1 percent in September 2014.

• The 46 percent of homes that sold below asking price sold for an average of 10 percent below asking price in September, up from 11 percent in August but down from 5.8 percent in September 2014.

• The share of properties receiving multiple offers increased in September to 63 percent, up from 58 percent in August and 58 percent in September 2014.

• The average number of offers per property was unchanged at 2.4 in September and up minimally from 2.2 in September 2014.

• REALTOR® respondents reported that floor calls, listing appointments, and open house traffic all declined in September, reflecting the start of the off-peak home-buying season.

• When asked what REALTORS®’ biggest concerns are, more than one in five (22 percent) indicated a lack of housing inventory, 21 percent said low housing affordability, 15 percent cited a slowdown in economic growth, and another 12 percent said overinflated home prices.

Graphics (click links to open):

• Pending home sales by region.
• Fewer transactions closing above asking price.
• Premium paid over asking price.
• REALTORS®’ biggest concerns.

*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 becomes 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 of more than 300 California REALTORS® to measure data about their last closed transaction and sentiment about business activity in their market area for the previous month and the last year.

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 175,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.

Nevada County Real Estate Market Statistics

Nevada County Real Estate Market Statistics

…………………………………………………………….Nevada County Real Estate Market Statistics………………………………………………………….

Placer County Real Estate Market Statistics

Placer County Real Estate Sales Statistics

…………………………………………………………………Placer County Real Estate Sales Statistics………………………………………………………….

Existing-Home Sales Regain Momentum in September

WASHINGTON (October 22, 2015) — Existing–home sales rebounded strongly in September following August’s decline and have now increased year–over–year for 12 consecutive months, according to the National Association of Realtors®. All four major regions experienced sales gains in September.

Total existing–home sales1, which are completed transactions that include single–family homes, townhomes, condominiums and co–ops, increased 4.7 percent to a seasonally adjusted annual rate of 5.55 million in September from a slightly downwardly revised 5.30 million in August, and are now 8.8 percent above a year ago (5.10 million).

Lawrence Yun, NAR chief economist, says a slight moderation in home prices in some markets and mortgage rates remaining below 4 percent gave more households the confidence to close on a home last month. “September home sales bounced back solidly after slowing in August and are now at their second highest pace since February 2007 (5.79 million),” he said. “While current price growth around 6 percent is still roughly double the pace of wages, affordability has slightly improved since the spring and is helping to keep demand at a strong and sustained pace.”

The median existing–home price2 for all housing types in September was $221,900, which is 6.1 percent above September 2014 ($209,100). September’s price increase marks the 43rd consecutive month of year–over–year gains.

Total housing inventory3 at the end of September decreased 2.6 percent to 2.21 million existing homes available for sale, and is now 3.1 percent lower than a year ago (2.28 million). Unsold inventory is at a 4.8–month supply at the current sales pace, down from 5.1 months in August.

“Despite persistent inventory shortages, the housing market has made great strides this year, backed by an increasing share of pent–up sellers realizing the increased equity they’ve gained from rising home prices and using it towards trading up or moving into a smaller home,” says Yun. “Unfortunately, first–time buyers are still failing to generate any meaningful traction this year.”

First–time buyers fell to 29 percent of sales in September after climbing to their highest share of the year in August (32 percent). A year ago, first–time buyers represented 29 percent of all buyers.

NAR President Chris Polychron, executive broker with 1st Choice Realty in Hot Springs, Ark., says Realtors® strongly back the passing of H.R. 3700, the “Housing Opportunity Through Modernization Act of 2015.” Polychron testified in support of the bill yesterday before the U.S. House Financial Services Subcommittee on Housing and Insurance.

“This bill helps expand homeownership and rental housing opportunities at all levels and specifically includes changes to Federal Housing Administration policies that limit the flexible and affordable financing needed by many potential condo buyers — especially first–time buyers.”

All–cash sales rose to 24 percent of transactions in September (22 percent in August) and are unchanged from a year ago. Individual investors, who account for many cash sales, purchased 13 percent of homes in September, up from 12 percent in August but down from 14 percent a year ago. Sixty–seven percent of investors paid cash in September.

According to Freddie Mac, the average commitment rate for a 30–year, conventional, fixed–rate mortgage remained below 4 percent for the second consecutive month, declining slightly in September to 3.89 from 3.91 percent in August. A year ago, the average commitment rate was 4.16 percent.

Properties typically stayed on the market for 49 days in September, an increase from 47 days in August but below the 56 days in September 2014. Short sales were on the market the longest at a median of 135 days in September, while foreclosures sold in 57 days and non–distressed homes took 48 days. Thirty–eight percent of homes sold in September were on the market for less than a month.

Distressed sales4 — foreclosures and short sales — remained at 7 percent in September for the third consecutive month; they were 10 percent a year ago. Six percent of September sales were foreclosures and 1 percent (lowest since NAR began tracking in October 2008) were short sales. Foreclosures sold for an average discount of 17 percent below market value in September (18 percent in August), while short sales were discounted 19 percent (12 percent in August).

Single–family and Condo/Co–op Sales
Single–family home sales rose 5.3 percent to a seasonally adjusted annual rate of 4.93 million in September from 4.68 million in August, and are now 9.6 percent above the 4.50 million pace a year ago. The median existing single–family home price was $223,500 in September, up 6.6 percent from September 2014.

Existing condominium and co–op sales were at a seasonally adjusted annual rate of 620,000 units in September (unchanged from August), and are up 3.3 percent from September 2014 (600,000 units). The median existing condo price was $209,200 in September, which is 1.9 percent above a year ago.

Regional Breakdown
September existing–home sales in the Northeast jumped 8.6 percent to an annual rate of 760,000, and are 11.8 percent above a year ago. The median price in the Northeast was $256,500, which is 4.0 percent above September 2014.

In the Midwest, existing–home sales climbed 2.3 percent to an annual rate of 1.31 million in September, and are 12.0 percent above September 2014. The median price in the Midwest was $174,400, up 5.4 percent from a year ago.

Existing–home sales in the South rose 3.8 percent to an annual rate of 2.21 million in September, and are 5.7 percent above September 2014. The median price in the South was $191,500, up 6.2 percent from a year ago.

Existing–home sales in the West increased 6.7 percent to an annual rate of 1.27 million in September, and are 9.5 percent above a year ago. The median price in the West was $318,100, which is 8.0 percent above September 2014.

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NOTE: For local information, please contact the local association of Realtors® for data from local multiple listing services. Local MLS data is the most accurate source of sales and price information in specific areas, although there may be differences in reporting methodology.

1Existing–home sales, which include single–family, townhomes, condominiums and co–ops, are based on transaction closings from Multiple Listing Services. Changes in sales trends outside of MLSs are not captured in the monthly series. NAR rebenchmarks home sales periodically using other sources to assess overall home sales trends, including sales not reported by MLSs.

Existing–home sales, based on closings, differ from the U.S. Census Bureau’s series on new single–family home sales, which are based on contracts or the acceptance of a deposit. Because of these differences, it is not uncommon for each series to move in different directions in the same month. In addition, existing–home sales, which account for more than 90 percent of total home sales, are based on a much larger data sample — about 40 percent of multiple listing service data each month — and typically are not subject to large prior–month revisions.

The annual rate for a particular month represents what the total number of actual sales for a year would be if the relative pace for that month were maintained for 12 consecutive months. Seasonally adjusted annual rates are used in reporting monthly data to factor out seasonal variations in resale activity. For example, home sales volume is normally higher in the summer than in the winter, primarily because of differences in the weather and family buying patterns. However, seasonal factors cannot compensate for abnormal weather patterns.

Single–family data collection began monthly in 1968, while condo data collection began quarterly in 1981; the series were combined in 1999 when monthly collection of condo data began. Prior to this period, single–family homes accounted for more than nine out of 10 purchases. Historic comparisons for total home sales prior to 1999 are based on monthly single–family sales, combined with the corresponding quarterly sales rate for condos.

2The median price is where half sold for more and half sold for less; medians are more typical of market conditions than average prices, which are skewed higher by a relatively small share of upper–end transactions. The only valid comparisons for median prices are with the same period a year earlier due to seasonality in buying patterns. Month–to–month comparisons do not compensate for seasonal changes, especially for the timing of family buying patterns. Changes in the composition of sales can distort median price data. Year–ago median and mean prices sometimes are revised in an automated process if additional data is received.

The national median condo/co–op price often is higher than the median single–family home price because condos are concentrated in higher–cost housing markets. However, in a given area, single–family homes typically sell for more than condos as seen in NAR’s quarterly metro area price reports.

3Total inventory and month’s supply data are available back through 1999, while single–family inventory and month’s supply are available back to 1982 (prior to 1999, single–family sales accounted for more than 90 percent of transactions and condos were measured only on a quarterly basis).

4Distressed sales (foreclosures and short sales), days on market, first–time buyers, all–cash transactions and investors are from a monthly survey for the NAR’s Realtors® Confidence Index, posted at Realtor.org.

NOTE: The Pending Home Sales Index for September will be released October 29, and Existing–Home Sales for October will be released November 23; release times are 10:00 a.m. ET.