Real Estate

California pending home sales rebound in May

The number of Bay Area listings jumps dramatically

California pending home sales increased overall, a rebound from last year, according to the California Association of Realtors.

Some markets in California seem to be heating up, while others are actually slowing down.

Statewide, pending home sales increased by 3.8% from 131.4 in May 2015 to 136.5 this May, based on signed contracts.

Although pending home sales declined 3.6% since April, after adjusting for seasonal factors, sales moved by only 0.1%.

There were big differences in regions within the state. In San Francisco, for example, pending sales increased by a substantial 40.5% over last year.

This could be due to the decline in sales last year, which hit its lowest point in 10 years.

On the other hand, Orange County actually experienced a decrease in pending sales by 1.8% from last year.

In fact, many think that the California housing market could be about to slow down. Click here to see three reasons why.

This chart shows the yearly changes in pending sales by county.

Click to Enlarge


(Source: CAR)

3d rendering of a row of luxury townhouses along a street

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