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California pending home sales drop for the first time in a year and a half

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C.A.R.’s Pending Home Sales Index (PHSI)* rose 4.3 percent from a revised 115.2 in September to 120.2 in October, based on signed contracts. Pending sales were up 3.6 percent from the 116.1 index recorded in October 2011. Pending home sales are forward-looking indicators of future home sales.

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*first tuesday’s projection is based on monthly sales volume trends, as experienced so far this year.. Los Angeles County home sales volume rose slightly in 2017, only to fall back dramatically in 2018. Total sales volume in 2018 was 9% below 2017, translating to 7,500 fewer sales than the year previous.

California pending home sales drop to lowest level in six months in October, portending market softening as year winds down, C.A.R. reports News provided by CALIFORNIA ASSOCIATION OF REALTORS

On a monthly basis, CAR said California pending home sales rose from December, primarily due to seasonal factors, with the PHSI increasing 21.1% from an index of 79 in December to 95.6 in January.

Los Angeles, CA – Feb. 24, 2016 (PRNewswire-USNewswire) Statewide pending home sales in California decreased in January on a year-over-year basis for the first time since August 2014 as a shortage of homes for sale and low housing affordability persist and volatile financial markets distract buyers, the CALIFORNIA ASSOCIATION OF REALTORS (C.A.R.) said today.

Pending Homes Sales in California Decline for 6th Straight Month. Based on signed contracts, year-over-year statewide pending home sales fell for the sixth straight month in June on a seasonally adjusted basis, with the pending home sales index declining 0.9 percent from 119.0 in June 2016 to 117.9 in June 2017, according to the Realtors.