Posts from April 2018

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            California home sales tick higher in March as median price reaches eight-month high

- Existing, single-family home sales totaled 423,990 in March on a seasonally adjusted annualized rate, up 0.3 percent from February and 1.6 percent from March 2017.

- March's statewide median home price was $564,830, up 8.1 percent from February and 8.9 percent from March 2017.

- Alameda, Marin, San Mateo, Santa Clara, San Diego, and Orange counties all hit a new peak price at $955,000, $1,392,500, $1,615,000, $1,454,500, $625,400, and $824,450, respectively.

LOS ANGELES (April 17) – California's housing market continued its momentum as seasonally adjusted, existing home sales rose both month to month and year to year in March, while the statewide median price accelerated to an eight-month high, the CALIFORNIA ASSOCIATION OF REALTORS^® (C.A.R.) said today.  

Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 423,990 units in March, according to information collected by C.A.R. from more than 90 local REALTOR^® associations and MLSs statewide.

The statewide annualized sales figure represents what would be the total number of homes sold during 2018 if sales maintained the March pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales.

March's sales figure was up 0.3 percent from the 422,910 level in February and up 1.6 percent compared with home sales in March 2017 of a revised 417,380. The year-to-year increase was slightly stronger than the six-month average sales growth of -0.1 percent recorded between September 2017 to February 2018.

"The housing market performed solidly throughout the state in March, especially in the San Francisco Bay Area, which led the way with six of nine counties posting sales increases and the median price surging by double-digits in seven of nine counties," said C.A.R. President Steve White. "On the other hand, sales in the Southern California region have cooled for the past five months, even in the more affordable Riverside and San Bernardino areas."   

Home prices maintained their strong growth across California, with the statewide median price jumping 8.1 percent in March to reach $564,830, up from a revised $522,440 in February and rising 8.9 percent from a revised $518,600 in March 2017. The March 2018 California median home price was the highest since August 2017, and the year-over-year gain was the largest since January 2016.

The marked price increase was partly due to a shift in sales to high cost regions and robust price growth within the high cost areas such as San Francisco, Marin, San Mateo, and Santa Clara counties. The year-over-year price gain has been growing at or above 7 percent for nine of the past ten months.

"While the decline in the number of active listings has slowed dramatically since the beginning of the year, inventory still remains tight, which is driving home prices higher," said C.A.R. Senior Vice President and Chief Economist Leslie-Appleton-Young. "Housing demand remains strong and competition is fierce, especially in San Francisco, San Mateo, and Santa Clara, where home prices are being pushed to record levels and buyers are paying as much as 17 percent over asking price in some markets."

Other key points from C.A.R.'s March 2018 resale housing report include:

• On a regionwide, non-seasonally adjusted basis, only the San Francisco Bay Area posted a year-over-year sales gain with a 3.1 percent increase from last March. The Los Angeles metro region experienced a 5.9 percent annual sales drop, and sales in the Inland Empire housing market declined 5.7 percent.
• Six of nine Bay Area counties recorded annual sales increases, with San Francisco (12.4 percent), and Marin (10.2 percent) increasing by double digits, while Napa (-23.9 percent), Solano (-2.2 percent), and Sonoma (-0.6 percent) experienced sales declines.
• Central Valley also experienced a slight increase in sales, as the region maintained its momentum for the third consecutive month. Sales of existing, single-family homes were up 1.1 percent when compared to last March with eight of 12 counties improving from last year.
• The Southern California market continued its downward trend with a year-over-year decline of 6.4 percent. Sales were down the most in San Diego and Los Angeles counties, which decreased by 10.4 percent and 7.6 percent, respectively.
• The bottom end of the market continues to bear the brunt of the housing shortage as homes priced under $200,000 declined 32 percent on an annual basis, while homes priced $2 million and higher increased by 33 percent. In general, supply constraints continued to limit sales in market segments priced below $500,000, but properties valued above that price level showed modest-to-strong growth in sales in the most recent month.  
• Home prices in the Bay Area remained robust in March as the region's median price increased 18.1 percent from a revised $830,000 last March to $980,000 in March 2018. Prices in eight of nine counties increased on a year-over-year basis and rose more than 10 percent in six of nine counties.
• Home prices in most Southern California counties also grew robustly – all counties increase by at least 6 percent on an annual basis, except Ventura, which inched up by 1.8 percent. Los Angeles prices increased the most at 13.6 percent and continued to surge by double-digits for the fourth straight month. San Diego and Orange County followed with a 9.5 percent and 8.5 percent annual increase, respectively, marking new record high median prices for the two counties.
• After a double-digit, year-over-year price surge in February, statewide condo/townhome prices curtailed slightly in March but still rose a solid 8.4 percent from a year ago. The California condo/townhome median price set a new record price high in March to reach $460,500, up 1.3 percent from the revised $454,500 registered in February.
• Statewide active listings continued to improve in March, dipping just 1.0 percent from a year ago. While the number of available listings for sale has trended downward for more than two years, March marked the third straight month that the decline in active listings was in the single digits.
• The statewide unsold inventory index dipped below the 3-month benchmark for the first time since the end of 2017, registering 2.9 months in March compared with 3.0 months in March 2017. While it is not unusual to see inventory levels decline at the end of the first quarter as the market transitions to the home-buying season, the low housing supply level – the lowest since 2013 – continues to be a concern.
• The median number of days it took to sell a California single-family home remained low at 16 days in March compared with 23 days in March 2017.
• C.A.R.'s statewide sales price-to-list price ratio* was 100 percent in March compared with 99.2 percent in March 2017.
• The average statewide price per square foot** for an existing, single-family home statewide was $276 in March, up from $255 in March 2017.
• Mortgage rates have been on the rise since breaking the 4.0 percent barrier in February. The 30-year, fixed-mortgage interest rates averaged 4.44 percent in March, up from 4.33 percent in February and from 4.20 percent in March 2017, according to Freddie Mac. The five-year, adjustable mortgage interest rate also edged higher in March to an average of 3.65 percent from 3.60 percent in February and from 3.21 percent in March 2017.

Graphics (click links to open):

• Calif. historical existing home sales.
• Calif. historical median home price.
• Sales to active listings by region.
• Condo/townhome median price continues upward trend.

Note:  The County MLS median price and sales data in the tables are generated from a survey of more than 90 associations of REALTORS® throughout the state and represent statistics of existing single-family detached homes only. County sales data are not adjusted to account for seasonal factors that can influence home sales.  Movements in sales prices should not be interpreted as changes in the cost of a standard home.  The median price is where half sold for more and half sold for less; medians are more typical than average prices, which are skewed by a relatively small share of transactions at either the lower-end or the upper-end. Median prices can be influenced by changes in cost, as well as changes in the characteristics and the size of homes sold.  The change in median prices should not be construed as actual price changes in specific homes.

*Sales-to-list price ratio is an indicator that reflects the negotiation power of home buyers and home sellers under current market conditions. The ratio is calculated by dividing the final sales price of a property by its last list price and is expressed as a percentage.  A sales-to-list ratio with 100 percent or above suggests that the property sold for more than the list price, and a ratio below 100 percent indicates that the price sold below the asking price.

**Price per square foot is a measure commonly used by real estate agents and brokers to determine how much a square foot of space a buyer will pay for a property.  It is calculated as the sale price of the home divided by the number of finished square feet.  C.A.R. currently tracks price-per-square foot statistics for 50 counties.

Leading the way…® in California real estate for more than 110 years, the CALIFORNIA ASSOCIATION OF REALTORS® (www.car.org) is one of the largest state trade organizations in the United States with more than 190,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.

# # #

March 2018 County Sales and Price Activity
(Regional and condo sales data not seasonally adjusted)

r = revised
NA = not available

March 2018 County Unsold Inventory and Time on Market
(Regional and condo sales data not seasonally adjusted)

r = revised
NA = not available

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Also known as an alligator pear or butter fruit, the versatile avocado is the only fruit that provides a substantial amount of healthy monounsaturated fatty acids (MUFA). Avocados are a naturally nutrient-dense food and contain nearly 20 vitamins and minerals.

This MNT Knowledge Center feature is part of a collection of articles on the health benefits of popular foods. In the article, we take an in-depth look at the possible health benefits of eating avocados as well as a nutritional breakdown. To maintain balance, we will also look at the possible health risks of consuming avocados.

Benefits

Eating a diet that contains plenty of fruits and vegetables of all kinds has long been associated with a reduced risk of many lifestyle-related health conditions. Numerous studies have found that a predominantly plant-based diet that includes foods such as avocados can help to decrease the risk of obesity, diabetes, heart disease, and overall mortality while promoting a healthy complexion and hair, increased energy, and overall lower weight.

1. Avocados are nutrient rich

 

 

 

Avocados are rich in vitamins and minerals.

According to the USDA National Nutrient Database, one serving (one-fifth of an avocado, approximately 40 grams) contains:

• 64 calories
• almost 6 grams of fat
• 3.4 grams of carbohydrate
• less than a gram of sugar
• almost 3 grams of fiber

Avocados are a great source of vitamins C, E, K, and B-6, as well as riboflavin, niacin, folate, pantothenic acid, magnesium, and potassium. They also provide lutein, beta-carotene, and omega-3 fatty acids.

Although most of the calories in an avocado come from fat, don't shy away! Avocados are full of healthy, beneficial fats that help to keep you full and satiated. When you consume fat, your brain receives a signal to turn off your appetite. Eating fat slows the breakdown of carbohydrates, which helps to keep sugar levels in the blood stable.

Fat is essential for every single cell in the body. Eating healthy fats supports skin health, enhances the absorption of fat-soluble vitamins, minerals, and other nutrients, and may even help boost the immune system.

2. Healthy for the heart

Avocados contain 25 milligrams per ounce of a natural plant sterol called beta-sitosterol. Regular consumption of beta-sitosterol and other plant sterols has been seen to help maintain healthy cholesterol levels.

3. Great for vision

Avocados contain lutein and zeaxanthin, two phytochemicals that are especially concentrated in the tissues in the eyes where they provide antioxidant protection to help minimize damage, including from ultraviolet light.

As the monounsaturated fatty acids in avocados also support the absorption of other beneficial fat-soluble antioxidants, such as beta-carotene, adding avocados to your diet may help to reduce the risk of developing age-related macular degeneration.

4. Osteoporosis prevention

 

 

 

Vitamin K is essential for bone health.

Half of an avocado provides approximately 25 percent of the daily recommended intake of vitamin K.

This nutrient is often overlooked, but is essential for bone health.

Vitamin K is often overshadowed by calciumand vitamin D when thinking of nutrients important for maintaining healthy bones, however, eating a diet with adequate vitamin K can support bone health by increasing calcium absorption and reducing urinary excretion of calcium.

5. Cancer

Adequate intake of folate from food has shown promise in protecting against colon, stomach, pancreatic, and cervical cancers.

Although the mechanism behind this apparent reduction in risk is currently unknown, researchers believe that folate protects against undesirable mutations in DNA and RNA during cell division.

Avocados may even have a role to play in cancer treatment, with some research finding that phytochemicals extracted from avocado can selectively inhibit the growth of precancerous and cancerous cells and cause the death of cancer cells, while encouraging the proliferation of immune system cells called lymphocytes.

These phytochemicals have also been shown to decrease chromosomal damage caused by cyclophosphamide, a chemotherapy drug.

6. Healthy babies

 

 

 

Folate is also known as folic acid.

Folate is extremely important for a healthy pregnancy.

Adequate intake reduces the risk of miscarriage and neural tube defects.

Recent research from McGill University found a 30 percent higher incidence of a variety of birth defects in baby mice conceived using sperm from mice with a folate deficiency compared with mice conceived using sperm from mice with adequate folate levels.

7. Lower risk of depression

Foods containing high levels of folate may help to decrease the risk of depression because folate helps to prevent the build-up of homocysteine, a substance that can impair circulation and delivery of nutrients to the brain.

Excess homocysteine can also interfere with the production of serotonin, dopamine, and norepinephrine, which regulate mood, sleep, and appetite.

8. Improved digestion

Despite its creamy texture, an avocado is actually high in fiber with approximately 6-7 grams per half fruit.

Eating foods with natural fiber can help prevent constipation, maintain a healthy digestive tract, and lower the risk of colon cancer.

9. Natural detoxification

Adequate fiber promotes regular bowel movements, which are crucial for the daily excretion of toxins through the bile and stool.

Recent studies have shown that dietary fiber may also play a role in regulating the immune system and inflammation.

10. Osteoporosis treatment

Substances called saponins, found in avocados, soy and some other plant foods, are associated with relief of symptoms in knee osteoarthritis, with further research planned to determine the long-term effects of isolated extracts.

11. Antimicrobial action

Avocados contain substances that have antimicrobial activity, particularly against Escherichia coli, a leading cause of food poisoning.

12. Protection from chronic disease

According to the Department of Internal Medicine and Nutritional Sciences Program of the University of Kentucky, high fiber intakes are associated with significantly lower risks of developing coronary heart disease, stroke, hypertension, diabetes, obesity, and certain gastrointestinal diseases. Increased fiber intake has also been shown to lower blood pressure and cholesterollevels, improve insulin sensitivity, and enhance weight loss for obese individuals.

Avocado seed husk may help to treat heart disease, cancer

Researchers found that avocado seed husks contain compounds that could help to kill viruses, combat heart problems, and treat cancer.

READ NOW

Diet

 

 

 

Avocado can be mashed and spread on toast instead of butter, or sliced and added to a sandwich or salad.

You can tell how ripe an avocado is by gently pressing into the skin. If the avocado is firm and does not budge, you will need to let it ripen for a few days before consuming. Soft avocados make great guacamole or dip, while firmer avocados are great for slicing and adding to a salad or a sandwich. To speed up the ripening process, place an avocado in a paper bag with a banana.

Quick tips:

• Spread avocado on toast in the morning instead of butter.
• Use avocado instead of mayonnaise in chicken or egg salad, or as a spread on a sandwich.
• The soft, creamy texture of an avocado and its mild taste make it a perfect first food for babies.

Try these healthy and delicious recipes using avocado:

Coconut kale smoothie
Roasted Brussels sprouts with toasted pecans and avocado
Poblano chilaquiles
Chipotle mango guacamole.

Avocado can be used in a number of different forms, many of which are available to purchase online, including avocado oil. Avocado oil may be used for cooking, or for moisturizing the skin or hair, so check the product information before purchasing.

As well as incorporating avocado into the diet, using avocado products on the skin is an option. Avocado is a popular ingredient in moisturizing products, such as face masks, available to purchase online.

Risks

It is the total diet or overall eating pattern that is most important in disease prevention and for achieving good health. It is better to eat a diet with variety than to concentrate on individual foods as the key to good health.

If you are taking blood-thinners, such as Coumadin (warfarin), it is important that you do not suddenly begin to eat more or less foods containing vitamin K, which plays a large role in blood clotting.

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