Posted by: Tanya Starcevich | September 1, 2016

Market Update

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46,500 new and resale home transactions closed escrow in California during June 2016. In step with the seasonal sales cycle, sales volume was up slightly from the prior month. This was roughly level with a year earlier, continuing a deceleration in year-over-year sales volume in recent months.

2015 ended with 450,700 home sales in California. This is 35,400, or 9%, more sales than took place in 2014. This is just above 2013 sales volume. For perspective, the number of homes sold in 2015 is still 303,203, or 40%, below peak sales volume experienced in 2005.

The number of homes sold year-to-date is 2% higher than 2015 as of May 2016. However, this percentage has steadily decreased in recent months, and it’s likely 2016 sales volume will end level with or below 2015.

 

 

Zillow.com August 3, 2016

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