CALIFORNIA HOUSING MARKET FORECAST June 2015. U.S. HOUSING MARKET OUTLOOK SERIES: U.S. Existing home sales of single-family homes and condo/coops SOURCE:

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March Home Sales Continued to Improve

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Sales Had the 2nd Largest Drop in the Last 6 Months

Sales of Existing Detached Homes

Sales Had a Strong Bounce Back in February

Sales Had the Largest Decline since March 2014

Sales Lost Steam after a Strong Start in Q1

Home Sales: Largest Decline Since 2014

Sales Continued to Improve for the Third Consecutive Month

Exhibit 1:Summary Table

Sales Declined for the 3rd Consecutive Month

Sales Decline YTY for the Third Straight Month

California Housing Market Update

Sales of Existing Detached Homes

Sales Started the Year with Down

Sales Reached the Lowest Level since Jan 2015

California Housing Market Update

Exhibit 1:Summary Table

Exhibit 1:Summary Table

California Housing Market Update

First Back-to-Back YTY Decline Since Last August

California Housing Affordability Update

California Housing Affordability Update

Sales Declined the Most Since August 2014

Pending Home Sales Index

Inventory Improved as Sales Continued to Fall

Sales Reached the Lowest Level since Apr 2008

Exhibit 1:Summary Table

California’s Fiscal Outlook

Sales Highest in 6 Months

California Housing Affordability Update

Sales Bounced Back After Small Dip Last Month

California Housing Affordability Update

Sales Highest since July 2013

California Housing Affordability Update

California Housing Affordability Update

Sales of Existing Detached Homes

Sales Continue to Grow Annually

Competitive Price Lines as of _______________________________

Presentation transcript:

CALIFORNIA HOUSING MARKET FORECAST June 2015

U.S. HOUSING MARKET OUTLOOK SERIES: U.S. Existing home sales of single-family homes and condo/coops SOURCE: NATIONAL ASSOCIATION OF REALTORS®

CALIFORNIA HOUSING MARKET OUTLOOK SERIES: CA Housing Market Outlook SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

SALES UP FOR 2015 AND CONTINUE TO IMPROVE IN 2015; PRICE WILL GROW STEADILY THIS YEAR AND NEXT Units (Thousand) Price (Thousand) SERIES: CA Housing Market Outlook SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

CA: DOLLAR VOLUME UP 9.9% IN 2015, UP 10.4% IN 2016 % Change$ in Billion -60% SERIES: CA Housing Market Outlook SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

U.S. ECONOMIC OUTLOOK SERIES: U.S. Economic Outlook SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

CALIFORNIA ECONOMIC OUTLOOK SERIES: CA Economic Outlook SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®