California single-family home and condominium sales were 37,823 in July, falling 10.4 percent for the month and down 12.8 percent from July 2015. Taking a longer-term view, year-to-date sales (January through July 2016) totaled 244,035 properties, down 2.0 percent from the same time period in 2015. The number of homeowners in a negative equity position fell to 472,000, or 5.4 percent of all California homeowners. Since July 2014, the number of negative equity homeowners has fallen more than 50 percent. Currently, one in 18 homeowners are underwater, down from one in eight 24 months ago.
The July 2016 median price of a California home was $438,000, down 0.7 percent, from a revised $441,000 in June. On a year-ago basis, median home prices were up 5.0 percent from $417,000. The median price of a condominium was $417,000, down 0.2 percent from an adjusted $418,000 in June 2016 and up 4.3 percent from $400,000 in July 2015. At the county level, July median home prices in 17 of California’s 26 largest counties were flat to lower from the previous month.
Read more: California Median Price Edges Lower
California single-family home and condominium sales were 41,291 in June 2016, up 8.1 percent from a revised 38,198 in May 2016. On a year-ago basis, sales were down 4.5 percent from 43,227 in June 2015. Year-to-date sales (January through June 2016) totaled 199,310 properties, down 2.8 percent from the same time period in 2015. January through June sales have oscillated around the 200,000 mark since 2009. The June 2016 median price of a California home was $441,250, a 9-year high and an increase of 1.4 percent, from a revised $435,000 in May. On a year-ago basis, median home prices were up 6.3 percent from $415,000. The median price of a condominium was $415,000, up 1.2 percent from $410,000 in May 2016 and up 3.8 percent from $400,000 in June 2015. At the county level, median home prices in 18 of California’s 26 largest counties reached 9-year highs.
Read more: Median Price Hits 9-Year High, Up 6.3 Percent from June 2015
California single-family home and condominium sales were 35,978 in April 2016, an increase of 5.8 percent from a revised 34,002 in March 2016. On a year ago basis, sales were down 8.3 percent from 39,219 in April 2015, the lowest April sales volume since 2011. Year-to-date sales (January through April 2016) totaled 117,235, down 4.5 percent from the same time period in 2015 and was the second lowest January through April sales volume since 2008. Of the total number of homes sold in April 2016, 20.0 percent were condominiums and 80.0 percent were single-family residences.
Read more: Tug-of-War Between Low Inventory and Affordability Rages On