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Category: Market Reports

An unusually high volume of home-buyer demand is flooding the spring market, with pending home sales rising in March for the third consecutive month and hitting their highest level since June 2013. In this video, NAR Chief Economist Lawrence Yun talks with Social Media Director T.J. Doyle about the spike. Watch now.

Eight of the top ten fastest-moving housing markets are located in California, according to a recent report by Trulia.

The report shows the share of homes sold within 60 days of their list date are:

  • 74% in San Francisco;
  • 70% in San Jose;
  • 70% in Oakland;
  • 67% in San Diego;
  • 59% in Orange County;
  • 58% in Sacramento;
  • 57% in Los Angeles; and
  • 57% in Ventura.

Today, each of these local markets has more homes selling within 60 days than one year ago. San Diego experienced the biggest jump from 56% sold within 60 days of listing last year to 67% today. In other words, California’s swiftly moving housing market is only moving faster.   (Read More)

Global forces make themselves at home 

Given California’s enormous size — both geographically and economically — it’s a real player in the global economy. In fact, it has the largest gross domestic product (GDP) of any other state, and the ninth largest GDP in the world.

How does California real estate fit into this global puzzle? Most home sales are actually excluded from GDP measures, as only new home sales are included in GDP. However, a large portion of the state’s wealth is held in the housing market, and it’s not just U.S. citizens who want to get into California real estate.    (Read More)