Pending Home Sales Rebound in California October 31, 2014 475 Views in Daily Dose, Data, Headlines, News Share Home Equity Pending-Home Sales Realtor Association 2014-10-31 Tory Barringer California pending home sales turned around a downward trend in September, posting their first increase in six months.The California Association of Realtors (CAR) reported a 2.6 percent increase in its Pending Home Sales Index, putting it a reading of 102.4 from 99.8 in August. The increase compares to a 0.3 percent uptick in the National Association of Realtors’ national index, which measured 105 in the group’s latest reading.CAR’s data from the past six years show contract signings average a monthly change of -3 percent from August to September, usually signaling the start of a slower season for housing.Compared to a year ago, pending sales last month were down 0.5 percent, the smallest annual decline since January 2013.Meanwhile, equity sales—transactions involving non-distressed properties—made up 90.9 percent of all sales in September, just down from the 91 percent share recorded in August. Equity sales in the state have accounted for more than 80 percent of total sales since July 2013 and for at least 90 percent of total sales since June.The combined share all of distressed property sales was 9.1 percent, down nearly 40 percent from last year, CAR reported. Out of the 41 reporting counties, 14 showed a monthly decrease in distressed sales share, with an additional 19 recording increases in the single digits.
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