Pending home sales index:
Pending home sales in California increased in January, according to C.A.R.’s Pending Home Sales Index (PHSI)*. The index was 93.6 in January, rising 13.6 percent from December’s index of 82.4, based on contracts signed in January. Pending home sales are forward-looking indicators of future home sales activity, providing information on the future direction of the market.
“Pending sales typically rise in January from a seasonally slow November and December,” said C.A.R. President Beth L. Peerce. “January’s pending sales should be reflected in higher existing sales activity in February and March and serve as a precursor to the spring home buying season.”
Distressed housing market data:
- The total share of all distressed property types sold statewide in January was 54 percent, up from 50 percent in December, but down from 56 percent in January 2010.
- Conventional sales made up the remaining share at 46 percent in January, down from 50 percent in December, but up from 44 percent in January 2010.
- Of the distressed properties sold statewide, the total share of REO (real estate-owned) sales was 32 percent in January, up from 30 percent in December, but was down from 37 percent in January 2010.
- The statewide share of short sales increased to 22 percent in January, up from 20 percent in December and up from 19 percent in January 2010.
- The median price of homes sold in the state differed dramatically depending on the property type, with non-distressed properties selling for much higher prices than short sales and foreclosures.
- The statewide median price of conventional properties sold in January was $367,150, 38 percent higher than the short sale median price of $265,500 recorded in January, and 85 percent higher than the January REO median price of $198,000.
Share of Distressed Sales to Total Sales
| Type of Sale | Jan-10 | Dec-10 | Jan-11 |
| REOs (real estate-owned) | 37% | 30% | 32% |
| Short Sales | 19% | 20% | 22% |
| Total Distressed Sales | 56% | 50% | 54% |
Distressed Sales by Select Counties
(Percent of total sales)
(Percent of total sales)
| County/Region | Jan-10 | Dec-10 | Jan-11 |
| CA | 56% | 50% | 54% |
| San Diego | 34% | 28% | 33% |
| Marin | 37% | 34% | 43% |
| Orange | 41% | 38% | 43% |
| San Luis Obispo | 49% | 46% | 47% |
| Los Angeles | 54% | 50% | 54% |
| Mendocino | 49% | 57% | 55% |
| Napa | 68% | 54% | 59% |
| Sonoma | 54% | 55% | 61% |
| Kern | 69% | 71% | 70% |
| Sacramento | 68% | 66% | 73% |
| Riverside | 78% | 67% | 73% |
| San Bernardino | 76% | 72% | 74% |
| Solano | 76% | 74% | 81% |
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