California pending sales jump in July, but market optimism slumps

Yearly and monthly jump in pending home sales largely attributed to SoCal markets, while Bay Area pending sales softened
  • Pending Home Sales Index (PHSI) rose 3.5 percent between July 2015 and July 2016.
  • The south end of the state stole the show, with a 1.6 percent annual jump in pending sales.
  • Respondents of CAR’s July survey said listing appointments, along with calls and open house attendance, has slowed given the time of year.

Although buyer competition is softening across major California markets, statewide pending sales data reveals heightened activity in Southern California. On a seasonally adjusted annualized basis, the California Association of Realtors Pending Home Sales Index (PHSI) rose 3.5 percent between July 2015 and July 2016.