Home sales higher annually as California market continues to thrive

  • Pending sales in California hanging tough, even though slow season has begun.
  • Even though sellers are averaging more than 3 offers per home, the gap in price expectation and reality narrowed.
  • Statewide, 27 percent of homes closed above, and 47 percent closed below the asking price in October.

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Across the state of California, pending home sales bounced back from the previous month in October. As a bonus, pending sales were also significantly higher on an annual basis, showing buyer’s hands in plans to close their deals in the next couple of months.