Industry 360°

Housing Market Forecast

The latest market forecast and projection to what lays ahead..

Data & Statistics

View the latest sales and price numbers. Find out where sales will be in upcoming months.

Current Sales & Price Statistics Housing Affordability Index - Traditional Historical Housing Data
Housing Matters Podcast

Your housing hub for market analysis, economic trends, and housing news.

Market Minute

Get a roundup of weekly economic and market news that matters to real estate and your business.

Speeches & Presentations

Catch up with the latest outreaches and webinars by the Research and Economics team.

Surveys & Reports

Californians are surveyed annually to gain insights on the housing market from their persepective.

Stay Connected

Stay connected with the latest releases by subscribing to the products and services that interest you.

Model MLS Rules/Materials

California Model MLS Rules, Issues Briefing Papers, and other articles and materials related to MLS policy.

Code of Ethics Violators

Summaries and photos of California REALTORS® who violated the Code of Ethics and were disciplined with a fine, letter of reprimand, suspension, or expulsion.

Statewide MLS Initiative

An explanation of C.A.R.'s position on MLS consolidations in general and a statewide MLS in particular.

NAR Code of Ethics

The most recent edition of the Code of Ethics and Standards of Practice of the National Association of REALTORS®.

Online Training for Professional Standards Volunteers

These volunteer training courses are for members who will be part of Board of Directors, grievance committees and hearing panels at local associations.

Professional Standards Materials

The California Professional Standards Reference Manual, Local Association Forms, NAR materials and other materials related to Code of Ethics enforcement and arbitration.

CAR Interboard Arbitration

Looking for information on how to file an interboard arbitration complaint?  You've come to the right place!  Find the rules, timeline and filing documents here.

Professional Standards Administrator Certification

All local associations/boards must designate and certify one person primarily responsible for administration of professional standards processes.  Register for certification here.

Professional Standards Webinars

Missed a training?  Check here for previous Professional Standards webinars.

Resources for Hearings via Zoom

Find tools, tips and tricks for successful online hearings and mediation conferences here

2021 Mediator Training for REALTORS®

C.A.R. is presenting a 4-day Mediator Training for REALTORS® via Zoom webinar.  All REALTORS® are welcome to register.

Professional Standards Train-the-Trainer

This training course is for those who want to become certified as a professional standards trainer.


C.A.R. advocates for REALTOR® issues in Washington D.C., Sacramento and in city and county governments throughout California.

PACs and RAF

CREPAC, LCRC, IMPAC, ALF and the RAF comprise C.A.R.'s political fundraising arm.

REALTOR® Action Fund
Politics and You

Learn how you can make a difference, by getting involved yourself or by passing along valuable information to your clients.

Arbitration Rules

California Code of Ethics and Arbitration Rules and external link to JAMS Arbitration service.

Recent Legal Developments

Summaries of legislation and regulation effecting REALTORS® and updates on news relevant to REALTORS®.

Real Estate Cases and Other Legal Resources

Important industry cases, resources and information

Legal Matters Podcast

Learn on-the-go! The Legal Matters Podcast gives you bite-size nuggets of power-packed legal information that will help you protect yourself and your clients. Join our attorneys for a “Legal Bedtime Story” or for the scoop on vital issues like the “Top 5 RPA Mistakes”.


Current legal developments, C.A.R. legal products and services.


What is This?
Add a quick link to this page from the Homepage when you are signed in
Share Article

May 17, 2021

With mortgage rates near historic lows and buyers’ interest remaining high, the California housing market is showing robust sales gain and record-breaking price as we move into the second month of the spring home buying season. As the pandemic situation further improves and the reopening continues, economic fundamentals will remain favorable, and the market could continue to grow. The shortage on housing supply, however, will likely remain an issue in the coming months, and that could curtail demand as affordability continues to deteriorate in today’s highly competitive market.

California Median Price Breaks Record Again in April: The state housing market reached another peak in April as its median price soared to $813,980, according to the latest monthly sales and price report released by C.A.R. All 51 counties tracked by the association reported a gain in median price on a year-over-year basis, as tight supply and heated market competition continued to put upward pressure on home prices. More high-end homes being sold in recent months also contributed to the jump in the statewide median price.  Nearly a third of all homes were sold at or above $1M in April 2021, as compared to less than one in six a year ago.   

Market Remains Heated: Imbalance between supply and demand continues to create fierce market competition in California. In the week ending May 15, REALTORS® reported that nearly a quarter of homes sold received ten or more offers. Many homebuyers offered sales bids over the asking price, with more than two-thirds of homes sold above their list price in April, the highest level since 2008. Active listings in the state were flying off the shelf with a record median of seven days before opening escrow in April.

Affordability at the Lowest Level Since Mid-2018: The percentage of home buyers who could afford to purchase a median-priced home in California in the first quarter of 2021 dropped to 27 percent from 35 percent in the first quarter of 2020, according to C.A.R.’s Traditional Housing Affordability Index (HAI). It was the largest decline in a 12-month period since early 2014. The decline was primarily due to the surge in home prices, despite mortgage rates being lower than last year and household income growing modestly from a year ago. The monthly housing payment – including principal, interests, insurance, and taxes - for a typical home in California increased 15.1% to $3,280 in Q121. 

Retail Sales Unchanged in April: After surging to the second largest monthly gain on record, retail sales remained flat in April. Despite sizable fallbacks in clothing and general merchandise stores, spending continued to rise in both the auto and food services industries last month, which helped offset weaknesses in other areas. With the CDC loosening its COVID-19 guideline in recent weeks, sales at the leisure and hospitality sector, including restaurants, will improve and drive broader retail sales higher in the coming months.   

Rates Dip Again but May Start Climbing Soon: Mortgage rates have been trending down since the average 30-year FRM reached its recent peak at the end of March. The U.S. weekly average reported by Freddie Mac declined again to 2.94% in mid-May but could start climbing shortly as inflation concerns prompt rates to hike again. Rates are still below last year’s level though and they should remain so for the rest of May. The margin between this year and last year, however, is narrowing and we could begin to see interest rates rising above last year’s level starting in June if inflation remains elevated in the coming weeks.

Builder Confidence Holds Steady: Despite worries over supply shortages and rising cost of building materials, U.S. homebuilders’ confidence remained unchanged. The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index was at 83 in May, the same level as in April. Low mortgage rates, a growing demographic of prospective homebuyers, and a lack of resale inventory are factors that keep builder confidence from falling. The rising cost of material, land, and labor, while its impact on homebuying activities may not be obvious right away, could eventually have a negative effect on affordability.   


Weekly Data for Week Ending 2021-05-15

Top Searches