This is from the California Association of Realtors - C.A.R.'s California & County Sales & Price Report for detached homes are generated from a survey of more than 90 associations of REALTORS® and MLSs throughout the state, representing 90 percent of the market. If you're interested in a specific country or area, please don't hesitate to text or call me! I love to help educate my clients, it helps to make well informed decisions! Lynne Watanabe MacFarlane, Realtor Intero Los Altos 408-800-1141 text Silicon Valley & Coastal properties

1. California
Housing Market Update
Monthly Sales and Price Statistics
February 2023

2. Existing Home Sales
% change
-33.2% YTY
California Housing Market Snapshot
page 2
Median
Sales Price
$735,480
-4.8% Y2Y
Unsold Inventory
Index
3.2 months
+60.0% Y2Y
Median
Days on Market
28 days
+211.1% Y2Y
February 2023
-39.6% YTD
284,010

3. Existing Home Sales
% change
-33.8% YTY
February 2023 Southern California Housing Snapshot
page 3
Unsold
Inventory Index
3.2 months
Median Days
on Market
30 days
Sales Price to
List Price Ratio
97.7%
-37.5% YTD
Existing Home Price
% change
$745,000
-2.0% YTY

4. Existing Home Sales
% change
-38.3% YTY
February 2023 Central Coast Housing Snapshot
page 4
Unsold
Inventory Index
3.5 months
Median Days
on Market
21 days
Sales Price to
List Price Ratio
97.6%
-36.8% YTD
Existing Home Price
% change
$856,000
-6.2% YTY

5. Existing Home Sales
% change
-28.6% YTY
February 2023 Central Valley Housing Snapshot
page 5
Unsold
Inventory Index
2.9 months
Median Days
on Market
27 days
Sales Price to
List Price Ratio
97.6%
-36.0% YTD
Existing Home Price
% change
$$$4$449,000
-3.4% YTY

6. Existing Home Sales
% change
-32.0% YTY
February 2023 Bay Area Housing Snapshot
page 6
Unsold
Inventory Index
2.7 months
Median Days
on Market
17 days
Sales Price to
List Price Ratio
99.4%
-34.4% YTD
Existing Home Price
% change
$$$1,050,000
-19.2% YTY

7. Existing Home Sales
% change
-39.4% YTY
February 2023 Far North Housing Snapshot
page 7
Unsold
Inventory Index
5.0 months
Median Days
on Market
45 days
Sales Price to
List Price Ratio
96.0%
-39.5% YTD
Existing Home Price
% change
$369,000
-1.6% YTY

8. page 8
Sales

9. page 9
Sales perk up amidst mortgage rates reprieve
-
100,000
200,000
300,000
400,000
500,000
600,000
700,000
Jan-05
Sep-05
May-06
Jan-07
Sep-07
May-08
Jan-09
Sep-09
May-10
Jan-11
Sep-11
May-12
Jan-13
Sep-13
May-14
Jan-15
Sep-15
May-16
Jan-17
Sep-17
May-18
Jan-19
Sep-19
May-20
Jan-21
Sep-21
May-22
Jan-23
California, February 2023 Sales: 284,010 Units, -33.2% YTY, +17.6% MTM
SERIES: Sales of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

10. page 10
SERIES: Sales of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
-33.2%
-60%
-40%
-20%
0%
20%
40%
60%
80%
100%
Year-over-Year % Chg 6 per. Mov. Avg. (Year-over-Year % Chg)
Sales improved yet still depressed as affordability remains a
challenge

11. Page 11
Bay Area sales improve slightly but remain below a year ago
-32.0%
-60%
-40%
-20%
0%
20%
40%
60%
80%
100%
120% Jan-10
May-10
Sep-10
Jan-11
May-11
Sep-11
Jan-12
May-12
Sep-12
Jan-13
May-13
Sep-13
Jan-14
May-14
Sep-14
Jan-15
May-15
Sep-15
Jan-16
May-16
Sep-16
Jan-17
May-17
Sep-17
Jan-18
May-18
Sep-18
Jan-19
May-19
Sep-19
Jan-20
May-20
Sep-20
Jan-21
May-21
Sep-21
Jan-22
May-22
Sep-22
Jan-23
YoY
%
chg.
Bay Area 6 per. Mov. Avg. (Bay Area)
SERIES: Sales of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

12. Page 12
-33.8%
-60%
-40%
-20%
0%
20%
40%
60%
80%
100%
Jan-10
May-10
Sep-10
Jan-11
May-11
Sep-11
Jan-12
May-12
Sep-12
Jan-13
May-13
Sep-13
Jan-14
May-14
Sep-14
Jan-15
May-15
Sep-15
Jan-16
May-16
Sep-16
Jan-17
May-17
Sep-17
Jan-18
May-18
Sep-18
Jan-19
May-19
Sep-19
Jan-20
May-20
Sep-20
Jan-21
May-21
Sep-21
Jan-22
May-22
Sep-22
Jan-23
So CA 6 per. Mov. Avg. (So CA)
YoY
%
chg.
SERIES: Sales of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
Southern California sales appear to be bottoming out

13. Page 13
-28.6%
-50%
-40%
-30%
-20%
-10%
0%
10%
20%
30%
40%
50% Jan-10
May-10
Sep-10
Jan-11
May-11
Sep-11
Jan-12
May-12
Sep-12
Jan-13
May-13
Sep-13
Jan-14
May-14
Sep-14
Jan-15
May-15
Sep-15
Jan-16
May-16
Sep-16
Jan-17
May-17
Sep-17
Jan-18
May-18
Sep-18
Jan-19
May-19
Sep-19
Jan-20
May-20
Sep-20
Jan-21
May-21
Sep-21
Jan-22
May-22
Sep-22
Jan-23
Central Valley 6 per. Mov. Avg. (Central Valley)
YoY
%
chg.
SERIES: Sales of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
Central Valley sales bounce back up

14. Sales by Region
Page 14
-33.8% -38.3%
-32.0% -28.6%
-39.6% -39.4%
9.5%
2.5%
15.5% 24.6%
5.7%
-2.7%
-50%
-40%
-30%
-20%
-10%
0%
10%
20%
30%
February 2023 Home Sales Growth
by Region
YTY % MTM %
Southern
California
48%
Central
Coast
4%
S.F. Bay
Area
17%
Central Valley
24%
Other
Counties
5%
Far North
2%
February 2023
Home Sales by Region

15. Page 15
30%
45%
25%
28%
44%
28%
$0 - $499k
$500 - $999k
$1M+
Share by Price Segment
2023
2022
SERIES: Sales of Existing Detached Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
-21%
-28% -27% -30% -35% -38%
-49%
-60%
-40%
-20%
0%
February 2023
(YTY% Chg.)
Sales at the top end are slowing the fastest

16. Sales improving in all price points except at the top end
Page 16
-100%
-50%
0%
50%
100%
150%
200%
250%
300%
350% Dec-18
Feb-19
Apr-19
Jun-19
Aug-19
Oct-19
Dec-19
Feb-20
Apr-20
Jun-20
Aug-20
Oct-20
Dec-20
Feb-21
Apr-21
Jun-21
Aug-21
Oct-21
Dec-21
Feb-22
Apr-22
Jun-22
Aug-22
Oct-22
Dec-22
Feb-23
YTY
%
Chg.
in
Sales
$0 - $299k $300 - $399k $400 - $499k $500 - $749k
$750 - $999k $1,000 - $1,999k $2,000k+
SERIES: Percent Change in Sales
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

17. Mix of Sales rebalancing to more normal levels
Page 17
30.5%
24.5%
-20%
-10%
0%
10%
20%
30%
40%
50%
60% May-19
Jul-19
Sep-19
Nov-19
Jan-20
Mar-20
May-20
Jul-20
Sep-20
Nov-20
Jan-21
Mar-21
May-21
Jul-21
Sep-21
Nov-21
Jan-22
Mar-22
May-22
Jul-22
Sep-22
Nov-22
Jan-23
%
of
Sales
Share Gap $0-$499k $1,000k and up
SERIES: Sales by Price Range
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

18. Pending sales improvement slows as mortgage rates
resumed ascent
Page 18
-34.9%
-60%
-40%
-20%
0%
20%
40%
60%
80%
100%
Jan-17
Apr-17
Jul-17
Oct-17
Jan-18
Apr-18
Jul-18
Oct-18
Jan-19
Apr-19
Jul-19
Oct-19
Jan-20
Apr-20
Jul-20
Oct-20
Jan-21
Apr-21
Jul-21
Oct-21
Jan-22
Apr-22
Jul-22
Oct-22
Jan-23
YTY
%
Chg.
in
Pending
Sales
SERIES: Percent Change in Pending Sales
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

19. Pending sales – remain sensitive to interest rates
Page 19
-34.9%
-38.6%
-100%
-50%
0%
50%
100%
150%
200%
250%
Jan-18
Apr-18
Jul-18
Oct-18
Jan-19
Apr-19
Jul-19
Oct-19
Jan-20
Apr-20
Jul-20
Oct-20
Jan-21
Apr-21
Jul-21
Oct-21
Jan-22
Apr-22
Jul-22
Oct-22
Jan-23
YTY
%
Chg.
in
Pending
Sales
SFH Condo/Townhome
SERIES: Percent Change in Pending Sales
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

20. Pending sales improve slightly
Page 20
-100%
0%
100%
200%
300%
400%
500% Jan-20
Mar-20
May-20
Jul-20
Sep-20
Nov-20
Jan-21
Mar-21
May-21
Jul-21
Sep-21
Nov-21
Jan-22
Mar-22
May-22
Jul-22
Sep-22
Nov-22
Jan-23
YTY
%
Chg.
in
Pending
Sales
$0 - $299k $300 - $399k $400 - $499k $500 - $749k $750 - $999k $1,000 - $1,999k $2,000k+

21. Pending sales growth slowed due to mortgage rates resurgence
Page 21
-60%
-40%
-20%
0%
20%
40%
60%
80% Jan-21
Feb-21
Mar-21
Apr-21
May-21
Jun-21
Jul-21
Aug-21
Sep-21
Oct-21
Nov-21
Dec-21
Jan-22
Feb-22
Mar-22
Apr-22
May-22
Jun-22
Jul-22
Aug-22
Sep-22
Oct-22
Nov-22
Dec-22
Jan-23
Feb-23
MTM
%
Chg.
in
pending
Sales
$0 - $299k $300 - $399k $400 - $499k $500 - $749k
$750 - $999k $1,000 - $1,999k $2,000k+
SERIES: Percent Change in Pending Sales
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

22. Pending sales move up in all price ranges due primarily to
seasonality
Page 22
1% 2%
16% 17% 16%
13% 12%
13.1% 10.8%
5.0% 8.2%
15.1%
23.7%
63.6%
0%
10%
20%
30%
40%
50%
60%
70%
February 2023 (MTM% Chg.)
Sales Pending
SERIES: Sales of Existing Detached Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

23. Price
page 23

24. California median home price softens, growth declines for
fourth consecutive month
Page 24
$-
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
$800,000
$900,000
$1,000,000 Jan-05
Sep-05
May-06
Jan-07
Sep-07
May-08
Jan-09
Sep-09
May-10
Jan-11
Sep-11
May-12
Jan-13
Sep-13
May-14
Jan-15
Sep-15
May-16
Jan-17
Sep-17
May-18
Jan-19
Sep-19
May-20
Jan-21
Sep-21
May-22
Jan-23
California, February 2023: $735,480, -2.1% MTM, -4.8% YTY
SERIES: Median Price of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

25. Condo/Townhome median price moderates
Page 25
$0
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
$800,000
Jan-07
Jul-07
Jan-08
Jul-08
Jan-09
Jul-09
Jan-10
Jul-10
Jan-11
Jul-11
Jan-12
Jul-12
Jan-13
Jul-13
Jan-14
Jul-14
Jan-15
Jul-15
Jan-16
Jul-16
Jan-17
Jul-17
Jan-18
Jul-18
Jan-19
Jul-19
Jan-20
Jul-20
Jan-21
Jul-21
Jan-22
Jul-22
Jan-23
Median
Price
California, February 2022: $640,000, February 2023: $615,000
SERIES: Median Price of Existing Condos/Townhomes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

26. Median price growth for condos and single-family homes
decelerates
Page 26
-50%
-40%
-30%
-20%
-10%
0%
10%
20%
30%
40%
50%
YTY%
Chg.
in
Price
Condo Single-Family Homes
SERIES: Median Price of Existing SFH & Condo/Townhomes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

27. Price/Square foot appears to be bottoming out
Page 27
$0
$50
$100
$150
$200
$250
$300
$350
$400
$450
$500
Jan-07
Jul-07
Jan-08
Jul-08
Jan-09
Jul-09
Jan-10
Jul-10
Jan-11
Jul-11
Jan-12
Jul-12
Jan-13
Jul-13
Jan-14
Jul-14
Jan-15
Jul-15
Jan-16
Jul-16
Jan-17
Jul-17
Jan-18
Jul-18
Jan-19
Jul-19
Jan-20
Jul-20
Jan-21
Jul-21
Jan-22
Jul-22
Jan-23
PRICE
PER
SQ.
FT.
February 2023: $373, +0.5% MTM, -4.8% YTY
SERIES: Median Price Per Square Feet of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

28. Per sq. ft. prices are down roughly as much
Page 28
-4.8% -3.9%
-6.2%
-3.4%
-1.6%
-19.2%
-2.0%
-4.8% -5.7% -5.3% -4.7%
-2.8%
-14.7%
-1.4%
-25%
-20%
-15%
-10%
-5%
0%
SFR Condo Central
Coast
Central
Valley
Far North S.F. Bay
Area
Southern
California
Year to Year Change in Existing SFR Prices (February 2023)
Median Price $/Sq. Ft.
SERIES: Median Price Per Square Feet of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

29. The Price/Square foot gap between home types remains wide
Page 29
$373
$516
$0
$100
$200
$300
$400
$500
$600
$700
Jan-07
Jul-07
Jan-08
Jul-08
Jan-09
Jul-09
Jan-10
Jul-10
Jan-11
Jul-11
Jan-12
Jul-12
Jan-13
Jul-13
Jan-14
Jul-14
Jan-15
Jul-15
Jan-16
Jul-16
Jan-17
Jul-17
Jan-18
Jul-18
Jan-19
Jul-19
Jan-20
Jul-20
Jan-21
Jul-21
Jan-22
Jul-22
Jan-23
PRICE
PER
SQ.
FT.
Diff. in Price/Sq. Ft. SFH Condo/Townhome
SERIES: Median Price Per Square Feet of Existing Single Family Homes and Condo/Townhomes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

30. Sales price-to-list price ratio bounces back
Page 30
90%
92%
94%
96%
98%
100%
102%
104%
106%
Jan-07
Jul-07
Jan-08
Jul-08
Jan-09
Jul-09
Jan-10
Jul-10
Jan-11
Jul-11
Jan-12
Jul-12
Jan-13
Jul-13
Jan-14
Jul-14
Jan-15
Jul-15
Jan-16
Jul-16
Jan-17
Jul-17
Jan-18
Jul-18
Jan-19
Jul-19
Jan-20
Jul-20
Jan-21
Jul-21
Jan-22
Jul-22
Jan-23
Sales-to-List
Price
Ratio
February 2023: 97.7%, +1.2% MTM, -4.9% YTY
SERIES: Sales to List Ratio of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

31. Share of homes sold above asking price jumps as market
competitiveness increases
Page 31
71.2%
72.8%
27.6%
0%
10%
20%
30%
40%
50%
60%
70%
80% Jan-17
Apr-17
Jul-17
Oct-17
Jan-18
Apr-18
Jul-18
Oct-18
Jan-19
Apr-19
Jul-19
Oct-19
Jan-20
Apr-20
Jul-20
Oct-20
Jan-21
Apr-21
Jul-21
Oct-21
Jan-22
Apr-22
Jul-22
Oct-22
Jan-23
%
of
sales
with
price
above
asking
price
SERIES: Sales with sold price above asking price (Existing SFH)
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

32. Homes sold above asking price - by county
Page 32
55%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
55%
60%
February 2023: % sold above asking price
50%
SERIES: % of homes sold above asking price
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

33. List price vs. sales price
Page 33
-30%
-20%
-10%
0%
10%
20%
30%
40%
50% Jan-10
Jun-10
Nov-10
Apr-11
Sep-11
Feb-12
Jul-12
Dec-12
May-13
Oct-13
Mar-14
Aug-14
Jan-15
Jun-15
Nov-15
Apr-16
Sep-16
Feb-17
Jul-17
Dec-17
May-18
Oct-18
Mar-19
Aug-19
Jan-20
Jun-20
Nov-20
Apr-21
Sep-21
Feb-22
Jul-22
Dec-22
YTY%
Chg.
in
Price
Listing Price Sales Price
SERIES: List price growth and sales price growth
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

34. Price growth by percentiles
Page 34
-20%
-10%
0%
10%
20%
30%
40%
50%
60%
YTY%
Chg.
in
Price
0-20 20-40 40-60 60-80 80-100
SERIES: Percent Change in Price
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

35. California Market Velocity and Price Growth
Page 35
-40.0%
-20.0%
0.0%
20.0%
40.0%
60.0%
80.0%
100.0%
120.0%
-20%
-10%
0%
10%
20%
30%
40%
50%
Market
Velocity
Price Growth Market Velocity (12 month trailing average)
SERIES: Market Velocity & Price Growth
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

36. Mortgage payment growth lessens as rates wane down
Page 36
-20%
-10%
0%
10%
20%
30%
40%
50%
60%
Jan-16
Jul-16
Jan-17
Jul-17
Jan-18
Jul-18
Jan-19
Jul-19
Jan-20
Jul-20
Jan-21
Jul-21
Jan-22
Jul-22
Jan-23
YTY%
Chg.
California Median Price vs. Mortgage Payment
Price Growth Mortgage Pmt Growth
3.76%
6.26%
0%
1%
2%
3%
4%
5%
6%
7%
8%
Jan-16
May-16
Sep-16
Jan-17
May-17
Sep-17
Jan-18
May-18
Sep-18
Jan-19
May-19
Sep-19
Jan-20
May-20
Sep-20
Jan-21
May-21
Sep-21
Jan-22
May-22
Sep-22
Jan-23
30 Yr. FRM
SERIES: Price Growth vs. Mortgage Payment Growth
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

37. Mortgage payment growth ebbs as rates and price moderate
Page 37
-4.8%
26.9%
-20%
-10%
0%
10%
20%
30%
40%
50%
60%
Jan-16
Apr-16
Jul-16
Oct-16
Jan-17
Apr-17
Jul-17
Oct-17
Jan-18
Apr-18
Jul-18
Oct-18
Jan-19
Apr-19
Jul-19
Oct-19
Jan-20
Apr-20
Jul-20
Oct-20
Jan-21
Apr-21
Jul-21
Oct-21
Jan-22
Apr-22
Jul-22
Oct-22
Jan-23
YTY%
Chg.
California Median Price vs. Mortgage Payment
Price Growth Mortgage Pmt Growth
SERIES: Price Growth vs. Mortgage Payment Growth
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

38. Inventory &
Active Listings
page 38

39. Inventory slips – as sales increase and less new listings are
added to the market
Page 39
0.0
2.0
4.0
6.0
8.0
10.0
12.0
14.0
16.0
18.0
Jan-05
Sep-05
May-06
Jan-07
Sep-07
May-08
Jan-09
Sep-09
May-10
Jan-11
Sep-11
May-12
Jan-13
Sep-13
May-14
Jan-15
Sep-15
May-16
Jan-17
Sep-17
May-18
Jan-19
Sep-19
May-20
Jan-21
Sep-21
May-22
Jan-23
Months
of
Supply
February 2022: 2.0 Months; February 2023: 3.2 Months
SERIES: Unsold Inventory Index of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

40. Inventory slips – getting tighter
Page 40
0
1
2
3
4
5
Jan-19
Mar-19
May-19
Jul-19
Sep-19
Nov-19
Jan-20
Mar-20
May-20
Jul-20
Sep-20
Nov-20
Jan-21
Mar-21
May-21
Jul-21
Sep-21
Nov-21
Jan-22
Mar-22
May-22
Jul-22
Sep-22
Nov-22
Jan-23
Months
of
Supply
February 2022: 2.0 Months; February 2023: 3.2 Months
SERIES: Unsold Inventory Index of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

41. Unsold Inventory trickles down as less new listings replenish
the market
Page 41
2.7
3.2
2.9
0.0
1.0
2.0
3.0
4.0
5.0
6.0
7.0
8.0
9.0
Jan-09
Jul-09
Jan-10
Jul-10
Jan-11
Jul-11
Jan-12
Jul-12
Jan-13
Jul-13
Jan-14
Jul-14
Jan-15
Jul-15
Jan-16
Jul-16
Jan-17
Jul-17
Jan-18
Jul-18
Jan-19
Jul-19
Jan-20
Jul-20
Jan-21
Jul-21
Jan-22
Jul-22
Jan-23
Months
of
Supply
Bay Area So CA Central Valley
SERIES: Unsold Inventory Index of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

42. Active listings above last two years but historically low
Page 42
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
California Active Listings by Month
2018 2019 2020 2021 2022 2023

43. Active listings slip for fifth consecutive month
Page 43
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
Jan-18
Apr-18
Jul-18
Oct-18
Jan-19
Apr-19
Jul-19
Oct-19
Jan-20
Apr-20
Jul-20
Oct-20
Jan-21
Apr-21
Jul-21
Oct-21
Jan-22
Apr-22
Jul-22
Oct-22
Jan-23
California Active Listings by Month

44. Active listings grow from last year at slowest pace since May ‘22
Page 44
38.2%
-80%
-60%
-40%
-20%
0%
20%
40%
60%
80%
100%
Jan-15
Mar-15
May-15
Jul-15
Sep-15
Nov-15
Jan-16
Mar-16
May-16
Jul-16
Sep-16
Nov-16
Jan-17
Mar-17
May-17
Jul-17
Sep-17
Nov-17
Jan-18
Mar-18
May-18
Jul-18
Sep-18
Nov-18
Jan-19
Mar-19
May-19
Jul-19
Sep-19
Nov-19
Jan-20
Mar-20
May-20
Jul-20
Sep-20
Nov-20
Jan-21
Mar-21
May-21
Jul-21
Sep-21
Nov-21
Jan-22
Mar-22
May-22
Jul-22
Sep-22
Nov-22
Jan-23
Year-over-Year % Chg
SERIES: Active Listing of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

45. Supply remains tight as fewer new listings join the market
Page 45
21,001 21,146
17,290 16,522
12,456
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
Jan-18
Jun-18
Nov-18
Apr-19
Sep-19
Feb-20
Jul-20
Dec-20
May-21
Oct-21
Mar-22
Aug-22
Jan-23
#
of
new
listings
SERIES: New Listings (Existing Single-Family Homes)
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
-24.6%
-60%
-40%
-20%
0%
20%
40%
60%
Jan-19
May-19
Sep-19
Jan-20
May-20
Sep-20
Jan-21
May-21
Sep-21
Jan-22
May-22
Sep-22
Jan-23
YTY%
chg.
in
new
listings
New Listings (Existing Single-Family Homes)

46. New active listings just enough to replenish closed sales
Page 46
16,522
12,456
15,998
10,826
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
Jan-18
Mar-18
May-18
Jul-18
Sep-18
Nov-18
Jan-19
Mar-19
May-19
Jul-19
Sep-19
Nov-19
Jan-20
Mar-20
May-20
Jul-20
Sep-20
Nov-20
Jan-21
Mar-21
May-21
Jul-21
Sep-21
Nov-21
Jan-22
Mar-22
May-22
Jul-22
Sep-22
Nov-22
Jan-23
Sales vs. New Active Listings
New Active Sales
SERIES: New Listings vs. Sales (Existing Single-Family Homes)
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

47. Overall supply level remains above last year as sales continue
to be depressed
Page 47
-80%
-60%
-40%
-20%
0%
20%
40%
60%
80%
100%
yty% chg. in sales yty% chg. in new active listings yty% chg. in total active listings
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

48. Active listings by region
Page 48
2,444
7,257
3,197
622 842
2,995
10,592
4,690
848 1,005
0
2,000
4,000
6,000
8,000
10,000
12,000
San Francisco
Bay Area
Southern
California
Central Valley Central Coast Far North
Active
Listings
Feb-22 Feb-23
SERIES: Active Listings of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

49. Inventory builds up in all regions as sales remain muted
across the state
Page 49
-28.6% -33.8% -38.3%
-32.0%
-39.4%
46.7% 46.0%
36.3%
22.5% 19.4%
-80%
-40%
0%
40%
80%
Central Valley Southern
California
Central Coast San Francisco
Bay Area
Far North
Year-to-Year
%
Chg
February 2023
Sales Active Listings
SERIES: Sales and Listings of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

50. Housing supply improves in nearly all counties
Page 50
SERIES: Active Listings (Existing Single-Family Homes)
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
127.4%
-32.4%
-60%
-40%
-20%
0%
20%
40%
60%
80%
100%
120%
140% Kings
Solano
Riverside
Sutter
Other
County
Yuba
Placer
Madera
Merced
Marin
Amador
Tulare
San
Benito
Monterey
Fresno
Stanislaus
Orange
San
Luis
Obispo
Ventura
San
Bernardino
San
Joaquin
Humboldt
Butte
San
Diego
Kern
Los
Angeles
Lassen
Mendocino
Contra-Costa
Santa
Barbara
Calaveras
Sonoma
San
Francisco
Glenn
Shasta
Santa
Cruz
Yolo
Sacramento
Tehama
Lake
Napa
Siskiyou
San
Mateo
Santa
Clara
El
Dorado
Alameda
Mariposa
Nevada
Plumas
Tuolumne
Mono
Del
Norte
YTY%
chg.
Active Listings (Existing Single-Family Homes)

51. Market
Competitiveness
page 51

52. Time on market shortens a bit as competitiveness heat up
Page 52
0
10
20
30
40
50
60
70
Days
on
Market
California, February 2022: 9 Days; February 2023: 28 Days
SERIES: Median Time of Market of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

53. Median time on market by percentile
Page 53
SERIES: Median Time on Market of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
11
9 8 9 10
8 8
11
14
9
27 28 27 26
34
32
30
32
35
28
0
5
10
15
20
25
30
35
40
0-20 20-40 40-60 60-80 80-100 80-85 86-90 91-95 96-100 Total
Days
on
Market
Percentile
Median Time on Market
Feb-22 Feb-23

54. Sales-to-list price ratio by percentile
Page 54
99.8% 100.0% 100.0% 99.8%
98.2%
98.7% 98.5%
97.9%
97.0%
97.7%
94%
95%
96%
97%
98%
99%
100%
101%
102%
103%
104%
0-20 20-40 40-60 60-80 80-100 80-85 86-90 91-95 96-100 Total
California Sales-to-List Price Ratio by Quintile
Feb-22 Feb-23
SERIES: Sales to List Ratio of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

55. Median sales vs. list price growth $1M+ properties
Page 55
-20%
-15%
-10%
-5%
0%
5%
10%
15%
20%
Jan-10
Jul-10
Jan-11
Jul-11
Jan-12
Jul-12
Jan-13
Jul-13
Jan-14
Jul-14
Jan-15
Jul-15
Jan-16
Jul-16
Jan-17
Jul-17
Jan-18
Jul-18
Jan-19
Jul-19
Jan-20
Jul-20
Jan-21
Jul-21
Jan-22
Jul-22
Jan-23
YTY%
Chg.
in
Price
California Median Sales vs. List Price Growth
Listing Price Sales Price
SERIES: Sales to List Ratio of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

56. Reduced-Price Listings
Page 56
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
10%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
1/1/2010
7/1/2010
1/1/2011
7/1/2011
1/1/2012
7/1/2012
1/1/2013
7/1/2013
1/1/2014
7/1/2014
1/1/2015
7/1/2015
1/1/2016
7/1/2016
1/1/2017
7/1/2017
1/1/2018
7/1/2018
1/1/2019
7/1/2019
1/1/2020
7/1/2020
1/1/2021
7/1/2021
1/1/2022
7/1/2022
1/1/2023
Median
Reduction
(Absolute
Value)
%
Share
Share of Listings with a Reduced Price: 32.7%; Median Reduction Amount: 5.3%
Share Reduced Median Reduction
SERIES: Listing Price of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

57. Growth in Reduced-Price Listings
Page 57
-0.4%
-0.2%
0.0%
0.2%
0.4%
0.6%
0.8%
1.0%
1.2%
-20%
-15%
-10%
-5%
0%
5%
10%
15%
20%
25%
1/1/2015
5/1/2015
9/1/2015
1/1/2016
5/1/2016
9/1/2016
1/1/2017
5/1/2017
9/1/2017
1/1/2018
5/1/2018
9/1/2018
1/1/2019
5/1/2019
9/1/2019
1/1/2020
5/1/2020
9/1/2020
1/1/2021
5/1/2021
9/1/2021
1/1/2022
5/1/2022
9/1/2022
1/1/2023
YTY
%
chg.
Growth in Share of Listings with a Reduced Price: +15.3%
Growth in Median Reduction Amount: +0.1%
Share Reduced Median Reduction
SERIES: Listing Price of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®