April 24, 2025 #1 Local News, Information and Event Source for the Century City/Westwood areas.

California’s real estate market continues to underperform

 

The California Association of Realtors reported that home sales figures have been dipping for four months. (Thinkstock)
The California Association of Realtors reported that pending home sales
figures have been dipping for four months. (Thinkstock)

Despite ultra-low interest rates, California’s real estate market continued to underperform in July, with pending home sales figures dipping for the fourth straight month, the California Association of Realtors reported today.

The Pending Home Sales Index dropped 2.3 percent from 107 in June to 104.5 in July, based on signed contracts, CAR reported in a statement. The month-to-month drop was consistent with seasonal trends. Pending sales were down 9.2 percent from the 115.1 index recorded in July 2013.

Pending home sales are forward-looking indicators of future home sales activity, providing information on the future direction of the market. They have been down year to year since October 2012, but the pace appears to be
decelerating as the decrease in July was smaller than the average in the last six months, according to CAR.

The share of equity sales, or non-distressed property sales, continued its upward trend, rising in July to 90.6 percent, up from 90.3 percent in June, CAR reported. Equity sales have been rising steadily again since the beginning of this year.

Equity sales have been more than 80 percent of total sales for more than two years and have risen above 90 percent for the second straight month. Equity sales made up 82.8 percent of sales in July 2013, CAR reported.

The combined share of all distressed property sales declined further in July, dropping from 9.7 percent in June to 9.4 percent in July, it said. Distressed sales continued to be down more than 50 percent from a year ago, when the share was 17.2 percent.

Twenty-one of the 41 reporting counties showed a month-to-month decrease in the share of distressed sales, with 20 of the counties recording in the single-digits, including Alameda, Contra Costa, Marin, Orange, Plumas, San Diego, San Luis Obispo, San Mateo, Sonoma, and Santa Clara counties, all of which registered a share of 5 percent or less, according to  CAR.

Related Posts

The Brian Jonestown Massacre Drops New Double A-Side Ahead of U.S. Tour

April 24, 2025

April 24, 2025

Legendary Psych-Rockers Set April 25 Release and Fall North American Tour The Brian Jonestown Massacre is set to release a...

(Video) Matú Kai Brentwood: The full experience

April 23, 2025

April 23, 2025

Sister restaurant to Matú in Beverly Hills, located at 11777 San Vicente Blvd. Sister restaurant to Matú in Beverly Hills,...

Uncle Stevey’s Bagels Wins Westside Hearts with Next-Level Bagels, Premium Sandwiches, and Local Coffee

April 23, 2025

April 23, 2025

Family-Run Shop Serves Delicious and Thoughtfully Curated Bagels With Love By Dolores Quintana A little more than a year since...

Santa Monica’s Socalo Toasts Pali Wine Co. with a Five-Course Culinary Celebration

April 23, 2025

April 23, 2025

Enjoy Celebrated Central Coast Wines, Including a 100-Point Red Blend Socalo, the acclaimed Mexican restaurant from celebrity chefs Mary Sue...

Go Go Bird Teams Up with Chef Chris Oh for Korean-Inspired Fried Chicken Sandwich

April 23, 2025

April 23, 2025

Crispy, Saucy, Spicy: Chris Oh’s Fried Chicken Sandwich Lands in Culver City Go Go Bird, located in Culver City’s Citizen...

Fogo de Chão Hosts Wine Lover’s Dream Night with Chilean Winery VIK

April 23, 2025

April 23, 2025

Diners Will Enjoy a Chef-Curated South American Menu, Highly Rated Wines Wine lovers and culinary connoisseurs are invited to gather...

Skip Traffic, Relax, Catch a Vibe: Midweek Sunset Party Lands on the Westside

April 23, 2025

April 23, 2025

DJ Jason Bentley, Mocktails, Games, Food Trucks, Light Up Fox Hills Commuters looking to escape rush hour gridlock on Thursday,...

Representative Brad Sherman in Person at CSUN Town Hall This Weekend

April 23, 2025

April 23, 2025

Constituents of California’s 32nd District Invited to an In-Person Q&A Session U.S. Rep. Brad Sherman will hold an in-person town...

(Video) A Myriad of Ways to Unlock Your Beauty Offered at Mirror Mirror Med Spa

April 23, 2025

April 23, 2025

For More Info, Go To Mirrormedspa.com For More Info, Go To https://t.co/1DP3ZKbfDt pic.twitter.com/OVvHuTjETC — CCNewsLA (@CCWNNews) April 23, 2025

New York Film Academy in Los Angeles Offers Summer Camps, Programs

April 22, 2025

April 22, 2025

New York Film Academy in Los Angeles is hosting several summer camps for teenagers and kids, providing practical training in...

Cinespia Returns to Hollywood Forever With Cult Classics and a David Lynch Tribute

April 22, 2025

April 22, 2025

Hollywood Forever Cemetery Becomes a Moviegoer’s Paradise Once Again Cinespia, Los Angeles’ beloved outdoor cinema series, will return to Hollywood...

Major I-405 Rehab Project Unveiled: Caltrans to Host Virtual Info Meeting

April 22, 2025

April 22, 2025

Sepulveda Pass Overhaul: New Pavement, Safer Roads, Better Commutes The California Department of Transportation (Caltrans) will hold a virtual informational...

San Fernando Valley Man Gets 5 Years for Beverly Hills Bank Fraud and Identity Theft

April 22, 2025

April 22, 2025

Federal Prison for ID Thief Who Raided Beverly Hills Mailboxes for Millions A North Hills man was sentenced Monday to...

Academy Announces Major Changes for 98th Oscars, Including AI Rules and New Casting Award

April 22, 2025

April 22, 2025

Academy Now Requires Viewing All Nominees to Cast Final Ballots The Academy of Motion Picture Arts and Sciences has unveiled...

Pepper Spray and Panic: LA Homeowners Targeted in Nighttime Burglaries

April 22, 2025

April 22, 2025

LAPD Hunts Suspects After One Resident Attacked in Beverly Grove Two separate home invasions late Friday night in Beverly Grove...