California Home Sales and Prices Continue to Climb

Mar 23, 2018

Existing, single-family home sales in California totaled 422,910 in February on a seasonally adjusted annualized rate, up 3.3 percent from January and up 5.4 percent from February 2017, according to new data from the California Association of Realtors (CAR).

On a regionwide basis, the San Francisco Bay Area posted the largest sales gain with a 7.1 percent year-over-year upswing, with increased sales in eight of nine Bay Area counties. In comparison, the Los Angeles metro region saw a 2.5 percent annual sales drop while the Inland Empire housing market saw sales fall by 1.2 percent.

Last month’s statewide median home price was $522,440, a 1 percent dip from January but an 8.8 percent hike from one year earlier. The Bay Area led the state with the regional median price increasing 13.9 percent over last year, with five counties hit new median price peaks: San Francisco ($1.73 million), San Mateo ($1.61 million), Santa Clara ($1.38 million), Marin ($1.37 million), and Sonoma ($689,000).

“February’s solid market performance was likely fueled by rising interest rates, which motivated buyers to rush in and close escrow before rates move even higher as they’re anticipated to do in the coming months,” said CAR President Steve White. “Despite losing ground in January, February’s strong sales gain more than covered the loss, resulting in a 1.1 percent increase so far this year.”

About the author

Phil Hall

Link copied

Published

Mar 23, 2018

Home Equity

Achieve Closes $261.5M HELOC Securitization Ahead Of Planned TPO Launch

The company expects to begin purchasing fixed-rate HELOCs from correspondent lenders during the third quarter

Achieve has completed a $261.5 million securitization backed by 3,129 fixed-rate home equity lines of credit as it prepares to begin purchasing HELOCs from correspondent lenders.ACHM Trust 2026-HE1 closed July 30 and was announced Aug. 6. It is Achieve’s first HELOC securiti...

Analysis and Data

Better Will Miss September Break-Even Target, Interim CEO Says

Platform volume overtook DTC, but costly enterprise integrations have yet to deliver, and new partnership growth is not expected until Q4

Better Home & Finance will miss its goal of reaching adjusted EBITDA break-even by the end of September, interim CEO Daniel Lewis acknowledged during his first earnings call leading the company.Rather than set another deadline, Lewis said Better must first show that it c...

Sep

Dallas, TX

More from

Industry News

The Fed Held. The Mortgage Market Got A Warning.

Three policymakers favored an immediate hike, while Warsh welcomed higher bond yields and offered no clear path toward mortgage-rate relief

Industry News

Jul 30, 2026

New Study Finds UWM's 'All-In' Triggered Industrywide Pricing Spillovers

Research shows wholesale competitors responded to the 2021 Rocket ban by lowering mortgage rates,

Industry News

Jul 15, 2026

First Major Housing Reform In Decades Becomes Law Without Trump's Signature

Bipartisan ROAD to Housing Act advances supply, construction, and mortgage reforms despite White House protest

Industry News

Jul 10, 2026

Mortgage Star Conference Honors Women Shaping The Future Of Mortgage Leadership

MWLC honors leaders driving innovation, mentorship, and growth across the mortgage industry

Industry News

Jul 09, 2026

June Jobs Report Improves Mortgage Rate Outlook

Slower hiring strengthens bonds and eases concerns over additional Fed tightening

Industry News

Jul 02, 2026

NEXA Founder Mike Kortas Launches evoLend To Help Originators Retain Borrowers

New Fannie Mae-, Freddie Mac- and Ginnie Mae-approved mortgage servicer aims to keep originators connected to borrowers through servicing data, payoff visibility and retention tools

Industry News

Jul 02, 2026

Popular