California's Housing Market Holds Up in April
Tuesday, June 18, 2019
According to CoreLogic, California’s housing market gained a little steam in April as some buyers were motivated by lower mortgage rates, more inventory and an improved negotiating position with sellers. April home sales rose more than usual from March and the year-over-year decline in transactions was the smallest since last summer. Several San Francisco Bay Area counties posted annual declines in their median sale prices in April but the statewide median’s modest annual increase was the highest since last November.
CoreLogic’s California Highlights from April’s Market
- In the six-county Southern California region, 20,074 new and existing houses and condos sold in April, down 3.3% year over year. April’s median sale price was $527,500, up 1.4% year over year. Of the six counties, none logged a year-over-year decline in the median sale price but San Diego and Ventura counties showed no change from a year earlier.
- In the nine-county San Francisco Bay Area, 6,987 new and existing houses and condos sold in April 2019, down 7.6% year over year. April’s median sale price was $850,000, unchanged from a year earlier. Five of the region’s nine counties – Alameda, Contra Costa, Marin, Santa Clara and Sonoma – posted annual declines in their median sale prices that ranged from 0.8% to 6.5%.
- Counties that bucked the statewide trend and logged annual gains in total April home sales included the following: Yuba (+13.6%), Butte (+8.1%), San Francisco (+5.1%), Ventura (+3.2%) and San Joaquin (+2.3%).