– March 1,2019-
California home sales fall to lowest level in more than 10 years in January 2019 California Association of Realtors reports.
– Existing, single-family home sales totaled 357,730 in January on a seasonally adjusted annualized rate, down 3.9 percent from December and down 12.6 percent from January 2018.
– January’s statewide median home price was $538,690, down 3.4 percent from December and up 2.1 percent from January 2018.
– Statewide active listings rose for the 10th straight month, increasing 27 percent from the previous year.
- The statewide Unsold Inventory Index was 4.6 months in January, up from 3.5 months in December.Housing demand in California remained subdued for the ninth consecutive month in January as economic and market uncertainties sent home sales to their lowest level since April 2008.
The statewide median home price declined to $538,690 in January. The January statewide median price was down 3.4 percent from $557,600 in December and up 2.1 percent from a revised $527,780 in January 2018.
Local numbers
In our reading area San Luis Obispo County reported a median sale price $592,500, down from $640,000 in December but up from $565,000 a year ago. Sales were lower by 14.4% year over year.
In Tulare County the median was $217,000, down from $236,00 in December and up slightly from a year ago when it was $215,733. Sales were off 16.8% YOY.