2014 Annual Housing Market Survey

8/10/2019 2014 Annual Housing Market Survey

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2014 ANNUAL HOUSING

MARKET SURVEYDecember 4, 2014

Oscar Wei, Senior Research Analyst


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METHODOLOGY

C.A.R. has conducted the Annual Housing Market Survey since 1981. Thequestions and methodology have stayed essentially the same throughoutthat time.

The survey was sent via email to a random sample of 26,674 REALTORSthroughout California.The sample represented the geographicaldistribution of C.A.R. membership across the state.The survey asked

REALTORS to provide information from their most recent salestransaction that closed escrow in the second quarter of 2014.

The survey instrument was a questionnaire with both multiple choice andopen-ended questions.There were 1,458 valid survey responses,equivalent to a response rate of 5.5 percent.The margin of error for thissurvey was +/- 2.6 percent at a 95 percent confidence level.


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TODAYS MARKET

Clearly well on the road to recovering

Volume A bit down, still reliant on investment sales

Prices up sharply, but increases slowing in most markets

Inventory remains tight

Pent-up/unrealized demand not yet translating into sales

Affordability challenges emerging once again


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SALES OF EXISTING DETACHED HOMES

California, Oct. 2014 Sales: 396,220 Units, -8.8% YTD, -1.9%YTY

-

100,000

200,000

300,000

400,000

500,000

600,000

700,000

*Sales are seasonally adjusted and annualizedSERIES: Sales of Existing Single Family HomesSOURCE: CALIFORNIA ASSOCIATIONOF REALTORS

Oct-14:396,220

Oct-13:404,000


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DEMAND FOR INVESTMENT & SECOND/ VACATIONHOMES DROPS TO THE LOWEST SINCE 2010

0%

5%

10%

15%

20%

25%

30%

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

Vacation/Second Home

Investment/Rental Property

5%

15%

SERIES: 2014 Housing MarketSurveySOURCE: CALIFORNIA ASSOCIATIONOF REALTORS

Long Run Average: 12 %


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MORE DISTRESSED SALES ARE BEING ABSORBED BYINVESTORS OVERTIME

0%

10%

20%

30%

40%

50%

60%

2008 2009 2010 2011 2012 2013 2014

Share of Distressed Sales Bought by First-Time Buyers

Share of Distressed Sales Bought by Investment Buyers



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EQUITY SALESVS. REO VS. SHORT SALES (2014)

Equity Sales REO Sales Short Sales

Share of Total Sales 93.5% 2.5% 3.6%

Median Home Price $479,000 $280,000 $277,500

Square Footage 1,700 1,500 1,400

Price / SF $294 $143 $183

Sales-to-List Price Ratio 100.0% 99.1% 100.0%

% of Sales With Multiple Offers 51.4% 82.6% 65.0%

Avg. Number of Offers 4.2 6.5 4.6

% of All Cash Sales 21.7% 21.7% 30.8%

Days on MLS 15 20 30

Days in Escrow 30 32 52



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EQUITY SALES (2011 - 2014)

2011 2012 2013 2014

Share of Total Sales 58.7% 64.7% 80.8% 93.5%

Median Home Price $431,000 $448,000 $456,635 $479,000

Square Footage 1,783 1,750 1,678 1,700

Price / SF $250 $243 $270 $294

Sales-to-List Price Ratio 95.9% 97.3% 100.0% 100.0%

% of Sales With MultipleOffers

35.2% 50.9% 69.0% 51.4%

Avg. Number of Offers 3.0 4.0 5.2 4.2

% of All Cash Sales 25.5% 27.3% 25.2 21.7%

Days on MLS 67 32 10 15

Days in Escrow 35 35 30 30



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REO SALES (2011 - 2014)

2011 2012 2013 2014



Square Footage 1,500 1,500 1,400 1,500

Price / SF $112 $116 $101 $143



58.3% 70.8% 91.2% 82.6%


% of All Cash Sales 34.0% 43.1% 50.0% 21.7%

Days on MLS 50 30 15 20




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SHORT SALES (2011 - 2014)

2011 2012 2013 2014



Square Footage 1,600 1,600 1,650 1,400

Price / SF $175 $154 $146 $183



57.5% 66.1% 75.7% 65.0%


% of All Cash Sales 23.3% 26.7% 35.7% 30.8%

Days on MLS 141 90 14 30




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MARKET COMPETITION COOLS DOWNAFTER PEAKING IN 2013

72%

53%5.7

4.3

0

1

2

3

4

5

6

7

0%

10%

20%

30%

40%

50%

60%

70%

80%

% with Multiple Offers

# of Multiple offers (Average)



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FEWER HOMES SOLD ABOVETHE ASKING PRICE ASMARKET COMPETITION COOLED IN 2014

7%

11%

28%

54%

0% 20% 40% 60%

20% or more

10% to 19.99%

5% to 9.99%

Less than 5%

Amt. of Price Reduction

49%

18%

33%

Sale Price to Asking Price

Below Asking Price AtAsking Price Above AskingPrice


Median Reduction = 4.5% of List Price


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50%

33%

0%

10%

20%

30%

40%

50%

60%

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

% of Sales above Asking Price

Long RunAverage = 19%

FEWER HOMES SOLD ABOVETHE ASKING PRICEAS MARKET COMPETITION COOLED IN 2014

0

2

4

6

8

10

12

14

16

0%

1%

2%

3%

4%

5%

6%

7%

8%

9%

10%

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

Med. Price Discount

Med. Weeks on MLS

0%, 2.1

weeks

Median Price Discount & Weeks on Market


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PRICE REDUCTION PRIORTO AN OFFER BEING MADE

37%

7%

11%

13%

13%

19%

0% 20% 40%

$1,000 or less

$1001 - $,5000

$5,001 - $10,000

$10,001 - $20,000

$20,001 - $50,000

More than $50,000

Amt. of Price Reduction

Q.Was there any price reduction made to the list price prior to an offer being made to the property?Q. How much was the price reduction?

29%

71%

Price Reduction

Yes No


Avg. Reduction $ = $10,000


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SHARE OF CASH BUYERS ISTHE LOWEST SINCE 2009

22%

0%

5%

10%

15%

20%

25%

30%

35%

% ofAll Cash Sales

Almost one-fourth of buyers paid

with all cash

The share of all cash buyers is the

lowest in the last 5 years



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THE SHARE OF INTERNATIONAL BUYERS DECLINESFROM 2013, BUT STILL THE 2ND HIGHEST IN THE LAST 6

YEARS

Q.Was the buyer an international buyer a person who was a citizen of another countrywho wished topurchase residential real estate in the U.S.?

6%

0%

1%

2%

3%

4%

5%

6%

7%

8%

9%

2008 2009 2010 2011 2012 2013 2014



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REALTORS WORKED WITH INTERNATIONAL BUYERSIN THE PAST 12 MONTHS

Q. How many properties have you sold to an international buyer in the last 12 months?

79%

9%

5% 3% 1% 3%

71%

14%

6% 4% 2% 4%

72%

12%

6% 3% 2% 5%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

0 1 2 3 4 5 or more

2012

2013

2014

% Who Sold to International Buyers

# of Properties Sold to International Buyers in the Last 12 Months



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REASONSTO BUY IN CALIFORNIA

Mild year-around weather Advanced Educational Opportunities

System # of Campuses

Examples

Universityof California 10 University of California,Berkeley

University of California,LosAngeles

University of California,Riverside

University of California,SanDiego

California StateUniversity

23 Cal State University,Fullerton

Cal State University,Northridge

Cal State PolytechnicUniversity, Pomona

California CommunityCollege

109+ Santa Monica College Pasadena City College

PrivateUniversity Hundreds California Institute ofTechnology

Pepperdine University Stanford University University of Southern

California

Amazing outdoor environment


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COUNTRY OF INTERNATIONAL BUYER

China (36%)

Canada (10%)

India (12%)



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PRICE PLATEAU AHEAD; ANNUAL GAINSSLOWINGCalifornia, Oct. 2014: $450,620, Up 5.4%YTY

SERIES: Median Price of Existing Single Family HomesSOURCE: CALIFORNIA ASSOCIATIONOF REALTORS

Oct-14:

$450,620Oct-13:

$427,540

$-

$100,000

$200,000

$300,000

$400,000

$500,000

$600,000

$700,000

Jan-05

Jul-05

Jan-06

Jul-06

Jan-07

Jul-07

Jan-08

Jul-08

Jan-09

Jul-09

Jan-10

Jul-10

Jan-11

Jul-11

Jan-12

Jul-12

Jan-13

Jul-13

Jan-14

Jul-14

P: May-07$594,530

T: Feb-09

$245,230-59% frompeak


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INCOME REQUIRED TO BUY A MEDIAN-PRICED HOME IN CA: (PEAK VS. CURRENT)

$56,324

$94,965

$0

$20,000

$40,000

$60,000

$80,000

$100,000

2012 Q1 2014 Q3

Change in minimum required income:

$38,641

Increase in income attributed to

interest rate increase:

$365 (0.9% of total change)

Increase in income attributed to price

increase :

$38,276 (99.1% of total change)

SERIES: Housing Affordability IndexSOURCE: CALIFORNIA ASSOCIATIONOF REALTORS


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HOUSING AFFORDABILITY DOWN

SHARPLY SINCE Q1 2012

% OF HOUSEHOLDS THAT CAN

BUY A MEDIAN-PRICED HOME

SERIES: Housing Affordability Index of Traditional BuyersSOURCE: CALIFORNIA ASSOCIATIONOF REALTORS

0%

10%

20%

30%

40%

50%

60%

70%

80% CA US

California vs. U.S. 1984-2014

Annual Quarterly


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SHARE OF FIRST-TIME BUYERS UPBUT STILL BELOW LONG-RUN AVERAGE

Q.Was the buyer a first-time buyer?

30.5%

0%

10%

20%

30%

40%

50%

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

% First-TimeHome Buyers Long RunAverage

Long Run Average = 38%



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FINANCIAL CHARACTERISTICS:FIRST-TIME VS. REPEAT


First-time Buyers Repeat Buyers All Buyers

Median Household Income $80,000 $120,000 $100,000

Median Monthly Mortgage Payment $1,477 $1,868 $1,800

Median Downpayment (in $$) $32,500 $100,000 $70,000

Median Downpayment (in % to Price) 10% 20% 19.7%


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$70,000

20%

0%

5%

10%

15%

20%

25%

$0

$10,000

$20,000

$30,000

$40,000

$50,000

$60,000

$70,000

$80,000

$90,000

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

Median Down Payment % of Down Payment to Price

Q. What was the amount of downpayment?

THE MEDIAN DOWN PAYMENT REMAINED THE SAMEAS IN 2013



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MEDIAN DOWN PAYMENTFIRST-TIME HOMEBUYERS VS. REPEAT HOMEBUYERS

Q. What was the amount of downpayment?

$32,500

$100,000

$0

$20,000

$40,000

$60,000

$80,000

$100,000

$120,000

$140,000

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

First-Time Buyers Repeat Buyers



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CASH SOURCE FOR DOWN PAYMENTFIRST-TIME BUYER VS. REPEAT BUYER

Q.What was the source of the cash the buyer used for a downpayment or to purchase the residence?


Personal saving 63.3% 50.8% 54.8%

Proceeds from sale of previousresidence

0.0% 22.7% 15.6%

Borrowed or gift from relatives 15.5% 4.5% 8.1%Sale of personal assets other than real

property 1.7% 3.5% 2.9%

Inheritance 4.0% 2.9% 3.2%

Proceeds from sale or refi of another

property 0.0% 4.6% 3.2%

Other 13.5% 11.0% 12.2%



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STUDENT LOAN DEBT AN ISSUE FOR 25% OFRENTERS

SERIES: 2013 Renter SurveySOURCE: CALIFORNIA ASSOCIATIONOF REALTORS

Yes, 23%

No, 75%

Refused,

2%

Student Loan Debt

78%

8%

6%

3%

2%

2%

$100K

Refused

Amount of Debt


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STUDENT DEBT: DRAGS ON HOME SALES


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RISING SHARE OF NEVER-MARRIED ADULTS

SOURCE: Pew Research Center analysis of the 1960-2000 decennial census and 2010-2012AmericanCommunity Survey

% of men and women ages 25 and older who have never been married


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BUYER HOUSEHOLD FORMATION(OVERTHEYEARS)

2000 2005 2010 2011 2012 2013 2014

Single 30.8% 29.7% 32.4% 28.6% 28.9% 22.4% 21.7%

Married Couple with

Dependents 33.8% 36.9% 30.8% 34.8% 33.6% 39.4% 42.6%

Married Couple withoutDependents

27.1% 19.2% 23.8% 24.2% 24.0% 25.1% 23.5%

2 or More Individuals

(Related or Unrelated) 7.2% 13.8% 11.2% 10.7% 11.5% 9.6% 9.1%

Other 1.4% 0.5% 1.8% 1.7% 2.0% 3.5% 3.1%

Total 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%



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LOCATION OF BUYERS PREVIOUS RESIDENCE



Within the same county 63.9% 56.2% 58.2%

In another county in California 18.1% 21.6% 20.0%

In another state 1.4% 11.0% 7.9%

Out of US 3.6% 2.1% 2.5%

Don't Know/Not sure 13.1% 9.1% 11.4%

Total 100.0% 100.0% 100.0%


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LOCATION OF BUYERS PREVIOUS RESIDENCE

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

Within the same county 63% 61% 61% 65% 64% 62% 57% 62% 57% 58%

In another county in California 21% 23% 22% 17% 18% 18% 24% 19% 22% 20%

In another state 6% 6% 6% 8% 6% 7% 7% 8% 7% 8%

Out of US 1% 2% 1% 3% 2% 2% 3% 2% 2% 2%

Don't Know/Not sure 9% 8% 10% 7% 10% 11% 10% 8% 12% 11%

Total 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%



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REASONS FOR CHANGING COUNTY

26%

16%

12%

12%

8%

7%

3%

1%

0%

14%

10%

7%

14%

18%

9%

10%

3%

7%

4%

19%

0% 5% 10% 15% 20% 25% 30%

Housing affordability

Shorter commute to work/school

Closer to family/relative

Quality of life

Quality of school

Job change

Quality of community services

Second home

Retired

Other




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7.9%

11.3%

5.1%6.9%

0%

10%

20%

30%

40%

50%

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

All Hombuyers First-Time Buyers Repeat Buyers

Down Payment

PERCENT OF BUYERS WITH ZERO DOWN PAYMENT



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PROPORTION OF TRANSACTIONS WITH SECONDMORTGAGES

Q. In addition to the first mortgage or assumption, was there a second mortgage?

4%

0%

10%

20%

30%

40%

50%

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

Percent of Home Sales with Second Mortgage



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PERCENT OF BUYERS WITH SECOND MORTGAGE

0%

10%

20%

30%

40%

50%

60%

70%

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014




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Q. Please indicate the type of mortgage.

SHARE OF FHA STILL SIGNIFICANTLY HIGHER THAN 2007,

BUT WAS THE LOWEST IN 7YEARS (FIRST MORTGAGE)

16%

7%

0%

10%

20%

30%

40%

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

FHA VA



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WHY DO WE CARE ABOUT LOW LEVEL OFFIRST-TIME BUYER?

It signals a constrained flow of new householdsin the housing market

Trade-up market cannot be replenished in the

long run

First-time buyers represent the main impulsethat drives the states homeownership rate


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HOMEOWNERSHIP RATES

California Vs. U.S.

40%

45%

50%

55%

60%

65%

70%

75% CA US

SERIES: Homeownership RatesSOURCE: U.S.Census Bureau


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BUYERS FINANCIAL PROFILE (BY AGE RANGE)


Age 30 and

under Age 30-44 Age 45-64 Age 65 and up

Median Income $65,000 $100,000 $120,000 $100,000

Median Price $284,000 $508,500 $495,000 $400,000

Downpayment ($) $20,000 $62,000 $109,000 $100,000

Downpayment (% to Sale Price) 5.0% 13.7% 20.0% 22.0%

% of First-Time Buyers 85.4% 45.6% 13.3% 4.5%

Diff. Between Median Income and

Mini. Req. Income -$26,508 $8,492 $28,492 $8,492

% Can Afford to Buy a Median-Priced

Home 28.6% 64.8% 66.4% 59.1%


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HOMEOWNERSHIP RATE BY AGE OFHOUSEHOLDER

SOURCE: Census Bureau


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MILLENNIAL HOMEOWNERSHIP FALLING

SOURCE: Census Bureau


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REASONS FOR BUYING

Q. What was the single most important reason for buying the property?

Tired of Renting, 24.7%

Desired Larger Home,

18.3%

Investment/Tax

Considerations, 15.8%

Desired Better

Location, 16.5%

Change in Family

Status, 5.0%

Changed Jobs, 4.0%

Foreclosure/Short

Sale/Default, 0.5%

Desired Smaller Home,

3.5%

Retirement/Move

to Retirement

Community, 2.8%

Other, 8.8%



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REASONS FOR BUYINGFIRST TIME HOMEBUYERSVS. REPEAT HOMEBUYERS

Q. What was the single most important reason for selling/buying the property?

0% 10% 20% 30% 40% 50% 60%

Tired of Renting

Desired Larger Home

Desired Better Location

Change in Family Status

Investment/ Tax Considerations

Other

Changed Jobs

Retirement/Move to Retirement Community

Foreclosure/Short Sale/Default

Desired Smaller Home




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FIRST-TIME BUYERS BOUGHT BECAUSE THEY WERETIRED OF RENTING

Q.Was the buyer a first-time buyer?

54%

40%

50%

60%

70%

2007 2008 2009 2010 2011 2012 2013 2014

% Bought Because of Tired of Renting



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FIRST-TIME BUYERS NEEDYOUR HELPCONNECT EARLY AND OFTEN

Financial Literacy: How to manage their finances

What about student-loan debt?

Can my parents help me out?

How do I increase my credit score?

How to save for a down payment and how much?

What programs are available? Tools to find out

Downpayment Resource on car.org


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DOWNPAYMENT.CAR.ORG


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INVENTORY IMPROVING FROM LASTYEAR

Oct 2013: 3.3 Months; Oct 2014: 3.8 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.

0

2

4

6

810

12

14

16

18

SERIES: Unsold Inventory Index of Existing Single Family HomesSOURCE: CALIFORNIA ASSOCIATIONOF REALTORS


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WHY WAS/IS INVENTORY SO LOW?

Demand Side Housing affordability was at historic highs Low rates hurt investment alternatives International buyers

Supply Side Little new construction for last 5 years Underwater homeowners are stuck Mortgage Lock-In Effect No inventory to move up Foreclosure pipeline drying up Investors are renting instead of flipping Off-market (aka pocket) listings


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BUYING TO RENT: WINNING INVESTMENT

STRATEGY

Investment to Flip

Rental Property


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FOR THOSE WHO PURCHASED AN INVESTMENTPROPERTY:

Investment

Flip 14% Flip 9% Flip 26% Flip 62%

Rent 86% Rent 91% Rent 74% Rent 38%

Distressed Sales

Investment

Flip 15% Flip 20% Flip 12% Flip 23%

Rent 85% Rent 80% Rent 88% Rent 77%Equity Sales

2011 2012 2013 2014


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CA PERMITS UP BUT MORE UNITS NEEDED

2013: 80,318 Units, Up 37.2% from 2012

SERIES: New Housing PermitsSOURCE: Construction Industry Research Board

0

50000

100000

150000

200000

250000

300000

350000 Single Family Multi-Family

HouseholdGrowth: 220,000-250,000/yr


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POCKET LISTINGS

96%

16%

4%

1%

0% 20% 40% 60% 80% 100%

Property listed on an MLS

Property marketed before it was being listed

on the MLS

Property received an accepted offer prior to

it being listed on the MLS

Transaction happened on auction.com



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9

0

1

2

3

4

5

6

7

8

9

10 All Sellers

YEARS OWNED HOME BEFORE SELLING

SERIES: 2013Housing Market SurveySOURCE: CALIFORNIA ASSOCIATIONOF REALTORS


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REASONS FOR SELLING

Q. What was the single most important reason for selling the property?

Foreclosure/Short

Sale/Default, 6.2%

Change in Family

Status, 13.3%

Retirement/Move to

Retirement

Community, 11.6%

Investment/Tax

Considerations, 10.9%

Desired Better

Location, 12.8%

Desired Smaller Home,8.5%

Changed Jobs, 7.0%

Desired Larger Home,8.4%

Other, 21.3%



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SELLERS WHO SOLD BECAUSE THEIR PROPERTIES WERE

IN DISTRESSED STATUS WERE BACK TO 2007 LEVEL

Q. What was the single most important reason for selling/buying the property?

6%0%

5%

10%

15%

20%

25%

30%

35%

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

% of Homes Sold Due to Foreclosure/Short Sale/Default

SERIES: 2013Housing Market SurveySOURCE: CALIFORNIA ASSOCIATIONOF REALTORS


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SELLERS WITH NET CASH LOSS DROPPEDTO THELOWEST LEVEL SINCE 2006

Q.What was the net cash gainor net lossto the seller as a result of this sale?

8.2%

0%

5%

10%

15%

20%

25%

30%

35%

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

Long Run Average = 12.2%



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Q.What was the net cash gainor net lossto the seller as a result of this sale?

$100,000

$0

$50,000

$100,000

$150,000

$200,000

$250,000

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

NET CASH GAINTO SELLERS ROSE AGAIN FORTHESECONDYEAR



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NEARLY HALF OF ALL SELLERS ARE PLANNINGTO BUYANOTHER HOME ASTHE MARKET RECOVERS

Q. Is the seller planning on purchasing another home?

48%

0%

10%

20%

30%

40%

50%

60%

70%

80%

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014



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LOCATION OF SELLERS NEW HOME

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

Within the same county 38% 41% 37% 45% 47% 42% 49% 49% 46% 44%

In another county in California 23% 18% 24% 17% 21% 21% 19% 18% 20% 21%

In another state 31% 28% 29% 27% 19% 20% 20% 22% 19% 22%Out of US 1% 2% 1% 1% 2% 1% 1% 1% 0% 1%

Don't Know/Not sure 7% 11% 9% 10% 12% 16% 10% 10% 15% 13%

Total 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%



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FORTHOSE WHO DO NOT PLANTO REPURCHASE,HERE ARE THEIR TOP REASONS:

14%

10%

8%

7%

7%

5%

15%

9%

9%

22%

12%

7%

4%

6%

5%

7%

6%

5%

21%

16%

9%

6%

6%

5%

4%

2%

3%

0% 5% 10% 15% 20% 25%

Seller prefers to have less financial obligation

Seller owns another home

Decide to live with family/friends

Deceased

Retirement/Moved to Retirement Facility

Out of work/underemployment

Seller is a lender/bank

Lack of cash for down payment

Poor credit background

2012 2013 2014



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KEY TAKEAWAYS

Sales down from 2013, but improving in recent months;investment sales still play a role

International buyers continue to show interest in buying in CA

Prices up sharply, but increases slowing in most markets

Housing affordability remains a challenge, especially to first-time buyers

Sellers are optimistic about the housing market


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CALIFORNIA HOUSING MARKET FORECAST

SERIES: CA Housing Market OutlookSOURCE: CALIFORNIA ASSOCIATIONOF REALTORS

SFH Resales (000s)

% Change

Median Price ($000s)

% Change

Housing Affordability Index

30-Yr FRM

2011

422.6

1.4%

$286.0

-6.2%

53%

4.5%

2012

439.8

4.1%

$319.3

11.6%

51%

3.7%

2013

413.3

-5.8%

$407.2

27.5%

36%

4.0%

2014 P

380.5

-8.2%

$455.0

11.8%

30%

4.3%

2015 F

402.5

5.8%

$478.7

5.2%

27%

4.5%


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Working with International HomeBuyers in California

Thursday, January 29, 2014

2:00 PM - 3:00 PM

To register:

WWW.CAR.ORG/MARKETDATA/VIDEOS

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Sharing the most up-to-date informationabout Californias housing market.

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Housing Matters

Data Visualization. EconomicTrends.Housing Affordability. HousingTrends. Market Outlook.


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2014 Annual Housing Market Survey

Documents

Transcript of 2014 Annual Housing Market Survey