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For release:
October 24, 2017
California pending home sales stall for third straight month in September
LOS ANGELES (Oct. 24) – California pending home sales dwindled for the third consecutive month, suggesting that the housing market will slow as the end of the year winds down, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today.
Entering the fall home-buying season, the housing market momentum waned as REALTORS® reported slower open house traffic, and listing appointments and client presentations fell below positive territory in September, C.A.R.’s September Market Pulse Survey** found.
Pending home sales data:
Year-to-Year Change in Pending Sales by County/Region
County/Region/State |
Sept. 2017 |
Sept. 2016 |
Yearly % Change |
Counties |
|
|
|
Kern |
68.0 |
71.8 |
-5.2% |
Los Angeles |
81.5 |
88.6 |
-8.0% |
Orange |
69.8 |
71.9 |
-2.8% |
Riverside |
46.8 |
54.1 |
-13.4% |
San Diego |
119.6 |
135.1 |
-11.5% |
San Bernardino |
63.1 |
71.4 |
-11.6% |
Monterey |
57.4 |
69.1 |
-16.9% |
Sacramento |
62.4 |
75.0 |
-16.8% |
San Francisco |
113.3 |
110.2 |
2.8% |
San Mateo |
85.1 |
109.7 |
-22.4% |
Santa Clara |
76.9 |
100.5 |
-23.5% |
Santa Cruz |
114.3 |
96.7 |
18.2% |
|
|
|
|
Regions |
|
|
|
San Francisco Bay Area |
135.8 |
152.2 |
-10.8% |
Southern California |
91.7 |
98.7 |
-7.1% |
Central Valley |
109.8 |
110.5 |
-0.6% |
|
|
|
|
California (SA)* |
120.0 |
127.7 |
-6.0% |
* Seasonally adjusted
September REALTOR® Market Pulse Survey**:
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*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.
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