California pending sales jump in July, but market optimism slumps

  • 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.

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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.