The California Association of REALTORS® researches data and releases infographics on a regular basis to help consumers better understand California's real estate market, and where the trends may be going. And the start of 2022 has brought a lot of questions about how home sales will trend.
Is COVID still affecting the market? Is the Ukraine-Russia War disrupting home sales? How does California real estate prices compare to a general consensus of buyer's sentiment for February 2022?
Today we're going to look at two of CAR's new infographics (Below):
- California February 2022 Sales & Price Report
- February 2022 California Housing Sentiment Index
First, according to the Sales & Price Report, pending sales continue to go down. And they're currently declining at a double-digit pace. Simply, less and less California homes are going into escrow. BUT, the median price of the state's housing inventory is still growing.
Also highlighted on the CA Feb 2022 Sales & Price Index is the sales-to-list price ratio. It's the highest its been in the last six months at 102.6%.
Second, the CA Feb 2022 Sales & Price Report points out the palpable exhaustion homebuyers continue to feel with the declining pending homes statistic at 12.5%, while the median California home price had double-digit growth. This comparison speaks volumes! Plainly, less buyers are going into escrow, while home prices continue to rise.
FEB 2022 HOUSING DATA
If you'd like to learn more about the state of California's housing market, and dig a little deeper into specific neighborhoods or areas, you can use our free and easy Housing Reports Data Tool to customize for any area you want. This will give you Active, Pending and Sold listing data useful whether you're buying or selling. Or price any home with this Home Valuation Tool that uses deep MLS and other public information data to determine a home's value.
California Sales & Price Report - February 2022
California Housing Sentiment Index - February 2022