2014 ended with just over 415,000 home sales in California. This is 31,000, or 7%, fewer sales than took place in 2013. The better news is sales volume year-to-date is now 9% higher than 2014 and has caught up with 2013.
Expect 2015 sales volume to rise slightly over 2014, though held back by persistently high home prices. Sales volume is likely to pick up in 2016 as job numbers continue to grow, to fall back in the months following the inevitable fixed rate mortgage (FRM) rates increase, likely in mid-2016.