RISMedia
  • News
  • Premier
  • Reports
  • Events
  • Power Broker
  • Newsmakers
  • More
    • Publications
    • Education
No Result
View All Result
  • Agents
  • Brokers
  • Teams
  • Marketing
  • Coaching
  • Technology
  • More
    • Headliners New
    • Luxury
    • Best Practices
    • Consumer
    • National
    • Our Editors
Join Premier
Sign In
RISMedia
  • News
  • Premier
  • Reports
  • Events
  • Power Broker
  • Newsmakers
  • More
    • Publications
    • Education
No Result
View All Result
RISMedia
No Result
View All Result

Regional Spotlight: California Market Normalizing? July Marked Continued Progress

Home Industry News
By RISMedia Staff
August 18, 2021
Reading Time: 2 mins read
Regional Spotlight: California Market Normalizing? July Marked Continued Progress

California’s housing market is still above pre-pandemic levels, but the environment has softened in July for the third consecutive month, according to the California Association of REALTORS® (C.A.R).

By the numbers:

– Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 428,980 in July

– July home sales decreased 1.6% monthly from 436,020 in June—down 2% YoY.

– Despite the downward trend, California home sales maintained year-to-date increase of 27.3%.

– After four consecutive months of record highs, California’s median home price fell 1% monthly to $811,170 in July, down from June’s $819,630 and up 21.7% from the $666,320 last July.

– The median price in California remained above the $800,000 benchmark for the fourth consecutive month.

California housing market continues to normalize as home sales and prices curb in July.The takeaway:

“The California housing market continues to normalize from the white-hot conditions we experienced at the height of the pandemic with both sales and prices moderating as we slowly transition from the peak home-buying season into the fall,” said C.A.R. President Dave Walsh. “The market remains solid, however, as sales were still the second highest level for a July in the last six years, and the statewide median price continues to perform above last year’s level by double-digits. Housing supply, while improved, remains tight and market competition is still heated with homes flying off the market in record time.”

“Despite dipping slightly from its record peak set in June, California’s median price remains elevated as supply constraints continue to provide upward pressure to support home prices,” said C.A.R. Vice President and Chief Economist Jordan Levine. “However, home prices should ease as housing inventory improves in the third quarter and the market continues to normalize during the traditional off-season.”

Tags: C.A.R.CaliforniaCalifornia Association of RealtorsHousing MarketIndustry NewsReal EstateReal Estate Marketreal estate news
ShareTweetShare

RISMedia Staff

Related Posts

Homebuilder Confidence Falls for 8th Straight Month
Agents

Homebuilder Confidence Falls for 8th Straight Month

August 16, 2022
Housing Starts Fall to Lowest Level in Over a Year
Agents

Housing Starts Fall to Lowest Level in Over a Year

August 16, 2022
The Hottest Zip Codes of 2022 Are in Small New England Cities
Agents

The Hottest Zip Codes of 2022 Are in Small New England Cities

August 16, 2022
Forbes Global Properties Names Michael Jalbert CEO
Agents

Forbes Global Properties Names Michael Jalbert CEO

August 16, 2022
Compass Eliminates Financial Perks, Recruiting Tactics After Tallying Higher Losses in Q2
Agents

Compass Eliminates Financial Perks, Recruiting Tactics After Tallying Higher Losses in Q2

August 16, 2022
Thriving in a Recession: Best Practices for Real Estate Team Leaders
Agents

Thriving in a Recession: Best Practices for Real Estate Team Leaders

August 16, 2022

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Tip of the Day

Keep Up With What Today’s Buyers Want

Today’s buyers want move-in ready but over 80% of homes in the U.S. are 20 years or older making pre-listing... Learn more.

Business Tip of the Day provided by
REGISTER NOW

Recent Posts

  • Homebuilder Confidence Falls for 8th Straight Month
  • Housing Starts Fall to Lowest Level in Over a Year
  • The Hottest Zip Codes of 2022 Are in Small New England Cities

Categories

  • Spotlights
  • Best Practices
  • Advice
  • Marketing
  • Technology
  • Social Media

The Most Important Real Estate News & Events

Click below to receive the latest real estate news and events directly to your inbox.

Sign Up
By signing up, you agree to our TOS and Privacy Policy.

About Blog Our Products Our Team Contact Advertise/Sponsor Media Kit Email Whitelist Terms & Policies

© 2022 RISMedia. All Rights Reserved. Design by Real Estate Webmasters.

No Result
View All Result
  • Home
  • Premier
  • Reports
  • News
    • Agents
    • Brokers
    • Teams
    • Consumer
    • Marketing
    • Coaching
    • Technology
    • Headliners New
    • Luxury
    • Best Practices
    • National
    • Our Editors
  • Publications
    • Real Estate Magazine
    • Past Issues
    • Custom Covers
  • Events
    • Upcoming Events
    • Podcasts
    • Event Coverage
  • Education
    • Get Licensed
    • REALTOR® Courses
    • Continuing Education
    • Luxury Designation
    • Real Estate Tools
  • Newsmakers
    • 2022 Newsmakers
    • 2021 Newsmakers
    • 2020 Newsmakers
    • 2019 Newsmakers
  • Power Broker
    • 2022 Power Broker
    • 2021 Power Broker
    • 2020 Power Broker
    • 2019 Power Broker
  • Join Premier
  • Sign In

© 2022 RISMedia. All Rights Reserved. Design by Real Estate Webmasters.

X