June 14, 2024 #1 Local News, Information and Event Source for the Century City/Westwood areas.

An Update on Home Sales In California

Latest real estate news (Thinkstock).
Latest real estate news (Thinkstock).

Statewide pending home sales in California decreased in January on a year-over-year basis for the first time since August 2014 as a shortage of homes for sale and low housing affordability persisted and volatile financial markets distracted buyers, the California Association of Realtors said today.

Statewide pending home sales fell in January on an annual basis, with the Pending Home Sales Index  decreasing 2.9 percent from 98.5 in January 2015 to 95.6 in January 2016, based on signed contracts, CAR said in a statement.

On a monthly basis, California pending home sales rose from December, primarily due to seasonal factors. The Pending Home Sales Index increased 21.1 percent from an index of 79 in December to 95.6 in January.

At the regional level, pending sales also were lower on a year-over-year basis in all areas. All regions experienced double-digit, month-to-month increases in pending sales, CAR said.

Pending home sales in Southern California increased 10 percent from December to reach an index of 75.9 in January, up from December’s index of 69 and down 4.1 percent from an index of 79.1 a year ago.

San Francisco Bay Area pending sales rose 13.9 percent from December to reach an index of 106.5 in January, up from December’s 93.5 index and down 4.7 percent from January 2015’s 111.8 index.

Central Valley pending sales rose from December to reach an index of 72.7, up 11.9 percent from December’s 65 index and down 1.1 percent from January 2015’s 73.5 index.

Related Posts

Bob Rosenbloom, Esteemed Owner of Bob’s Market and Community Pillar, Passes at 92

April 9, 2024

April 9, 2024

Bob Rosenbloom, the cherished proprietor of Bob’s Market on Ocean Park Blvd. in Santa Monica, passed away at his residence...

Don’t Miss Your Last Chance to Experience CORTEO by Cirque du Soleil!

April 25, 2023

April 25, 2023

The Show’s Run At The Microsoft Theater Ends On April 30  Time is running out for fans of CORTEO by...

Regulation of Short-Term Rentals in LA Failing as Enforcement Drops Significantly

April 4, 2023

April 4, 2023

Better Neighbors LA report highlights the inadequacies of enforcement measures for short-term rentals in Los Angeles, calling for increased regulation...

Non-Profit Helping Relieve Financial Burden For Cancer Patients

November 16, 2022

November 16, 2022

Cancer Cartel is helping cancer patients focus on their treatment, not the financial stress of living with a diagnosis. Learn...

100 Miles of Bus-Only Lanes Coming to L.A in Five Years?

October 17, 2022

October 17, 2022

L.A’s public transportation network is known for being slow due to traffic congestion. A new motion by L.A. City Council...

How to Wisely Manage Your Finances After a Job Layoff

October 3, 2022

October 3, 2022

Being laid off can be difficult, both emotionally and financially. It is important to manage your finances wisely during this...

Union Members Protest UC Policies in Westwood

May 3, 2022

May 3, 2022

Westwood and Wilshire protest takes place April 26 By Dolores Quintana The intersection of Wilshire and Westwood was the site...

Kale of All Kinds

March 16, 2022

March 16, 2022

Today at the Santa Monica Farmers Market we explore three different kinds of Kale from Cole Family Farms..Video sponsored by...

Name Revealed for Alice Waters’s Westwood Restaurant

October 20, 2021

October 20, 2021

Westside Dining Scene October 21, 2021 By Dolores Quintana Esteemed chef Alice Waters’s upcoming Westwood restaurant’s and the name has...

Community Volunteer Patrol Program Brings Civilians New Insight Into Law Enforcement

October 19, 2021

October 19, 2021

The West LA Police Department has a community patrol program bridging the gap between civilians and law enforcement. Video brought...

Police Seek Man Wanted for Sexually Assaulting Sleeping UCLA Student

September 2, 2021

September 2, 2021

Police are searching for a man wanted for sexually assaulting a female UCLA student while she slept. According to the...

Final Weekend of Marina Drive-In Movie Summer Series With New Movies Added

August 28, 2021

August 28, 2021

WHERE: Marina del Rey Boat Launch Ramp, 13477 Fiji Way at Parking Lot #2 COST: $20 per vehicle, per movie...

UCLA Admits Most Accomplished Class in Its History

July 20, 2021

July 20, 2021

New freshman and transfer cohorts are also among university’s most ethnically diverse By Ricardo Vazquez | UCLA Newsroom UCLA has...

Heritage Museum Reopens with Unique Exhibition

June 24, 2021

June 24, 2021

The California Heritage Museum welcomes back visitors with a unique and stunning quilt exhibition, learn more in this video brought to...