California

Housing Market
Update
Monthly Sales and
Price Statistics
January 2020
Sales
 Sales grew annually at double digits
for 1st time in 3 years
California, January 2020 Sales: 395,550 Units, 10.3% YTD, 10.3% YTY
700,000
600,000
500,000
400,000
300,000
200,000
100,000
-
May-06

May-08

May-10

May-12

May-14

May-16

May-18
Jan-05

Jan-07

Jan-09

Jan-11

Jan-13

Jan-15

Jan-17

Jan-19
Sep-05

Sep-07

Sep-09

Sep-11

Sep-13

Sep-15

Sep-17

Sep-19
SERIES: Sales of Existing Single Family Homes page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
3
 California home sales continue to improve

25%
20% Year-over-Year % Chg 6 per. Mov. Avg. (Year-over-Year % Chg)
15%
10.3%
10%
5%
0%
-5%
-10%
-15%
-20%
-25%

SERIES: Sales of Existing Single Family Homes page

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
4
 YoY % chg.

10%
20%
30%

-30%
-20%
-10%
0%
Jan-10
May-10
Sep-10
Jan-11
May-11
Sep-11
Jan-12
May-12
Sep-12
Jan-13
May-13
Bay Area

Sep-13
Jan-14
May-14
Sep-14
Jan-15
May-15
Sep-15
Jan-16
May-16
Sep-16
Bay Area sales growth had drastic halt

Jan-17
6 per. Mov. Avg. (Bay Area)

May-17
Sep-17
Jan-18
May-18
Sep-18
Jan-19
May-19
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
SERIES: Sales of Existing Single Family Homes

Sep-19
Jan-20
5
-1.1%

page
 So. California sales continued growth
at double digit pace
So CA 6 per. Mov. Avg. (So CA)
40%
30%
20% 15.7%
YoY % chg.

10%
0%
-10%
-20%
-30%
May-10

May-11

May-12

May-13

May-14

May-15

May-16

May-17

May-18

May-19
Jan-10

Jan-11

Jan-12

Jan-13

Jan-14

Jan-15

Jan-16

Jan-17

Jan-18

Jan-19

Jan-20
Sep-10

Sep-11

Sep-12

Sep-13

Sep-14

Sep-15

Sep-16

Sep-17

Sep-18

Sep-19
SERIES: Sales of Existing Single Family Homes page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
6
 Central Valley sales growth slowed

30% Central Valley 6 per. Mov. Avg. (Central Valley)

20%

10% 9.5%
YoY % chg.

0%

-10%

-20%

-30%
May-10

May-11

May-12

May-13

May-14

May-15

May-16

May-17

May-18

May-19
Jan-10

Jan-11

Jan-12

Jan-13

Jan-14

Jan-15

Jan-16

Jan-17

Jan-18

Jan-19

Jan-20
Sep-10

Sep-11

Sep-12

Sep-13

Sep-14

Sep-15

Sep-16

Sep-17

Sep-18

Sep-19
SERIES: Sales of Existing Single Family Homes page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
7
 Sales up except at the bottom end of the market

January 2020 Share by Price Segment

(YTY% Chg.) 18%
$0 - $299k 22%
30% 22.4%25.0% 23.2%
25% $300 - $399k 17%
20% 15.6% 17%
15% 8.9%
10% 7.2% $400 - $499k 14%
14%
5%
0% $500 - $749k 25%
-5% 23%
-10%
-15% -10.6% $750 - $999k 11%
10%
12% 2020
$1,000 - $1,999k 10%
2019
$2,000k+ 3%
3%

SERIES: Sales of Existing Detached Homes page

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
8
 High-end home sales showing improvement
in recent months
40% $0 - $299k $300 - $399k $400 - $499k $500 - $749k
30% $750 - $999k $1,000 - $1,999k $2,000k+
YTY % Chg. in Sales

20%

10%

0%

-10%

-20%

-30%

SERIES: Percent Change in Sales page

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
9
Sales by Region
January 2020 January 2020 Home Sales
Home Sales by Region Growth by Region
20.0%
Other Counties 15.7%
8% 15.0% 10.8%
Central 9.5%
Coast 10.0%
4% 5.0%
Central
Valley 0.0%
23% -5.0% -1.1%
-10.0% -5.8%

S.F. Bay
Southern Area
California 15%
50%

CALIFORNIA ASSOCIATION OF REALTORS®

page
10
 Pending sales rebound after slight dip

20%
YTY % Chg. in Pending Sales

15% 14.6%

10%
5%
0%
-5%
-10%
-15%
-20%

SERIES: Percent Change in Pending Sales page

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
11
Is it a good time to buy or sell?

Do you think it’s a good time to buy a Do you think it’s a good time to sell a
home in California? home in California?

62%
56%
50%

25% 25%23%

SERIES: Google Consumer Poll page

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
12
Price
 Median price dipped below 600k
but still managed to grow modestly from last year
California, January 2020: $575,160, -6.5% MTM, 7.1% YTY

$700,000
$600,000
$500,000
$400,000
$300,000
$200,000
$100,000
$-
May-06

May-08

May-10

May-12

May-14

May-16

May-18
Jan-05

Jan-07

Jan-09

Jan-11

Jan-13

Jan-15

Jan-17

Jan-19
Sep-05

Sep-07

Sep-09

Sep-11

Sep-13

Sep-15

Sep-17

Sep-19
SERIES: Median Price of Existing Single Family Homes page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
14
 Condo/Townhome median price growth speeds up

50% Condo Single-Family Homes

40%
30%
20%
YTY% Chg. in Price

10%
0%
-10%
-20%
-30%
-40%
-50%
May-06

May-08

May-10

May-12

May-14

May-16

May-18
Jan-05

Jan-07

Jan-09

Jan-11

Jan-13

Jan-15

Jan-17

Jan-19
Sep-05

Sep-07

Sep-09

Sep-11

Sep-13

Sep-15

Sep-17

Sep-19
SERIES: Median Price of Existing Condo/Townhomes page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
15
 Condo/Townhome median price
grew from last year
California, January 2019: $435,000, January 2020: $467,000
$600,000

$500,000
Median Price

$400,000

$300,000

$200,000

$100,000

$0
Mar-06

May-07
Dec-07

Mar-13

May-14
Dec-14
Jan-05

Oct-06

Jul-08

Jan-12

Oct-13

Jul-15

Jan-19
Apr-10
Nov-10
Jun-11

Apr-17
Nov-17
Jun-18
Aug-05

Feb-09
Sep-09

Aug-12

Feb-16
Sep-16

Aug-19
SERIES: Median Price of Existing Condos/Townhomes page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
16
 Price/Square Foot growth rate slowed

January 2020: $275, -4.8% MTM, 4.6% YTY

$400
$350
PRICE PER SQ. FT.

$300
$250
$200
$150
$100
$50
$0
Jan-07
Jul-07
Jan-08
Jul-08
Jan-09
Jul-09
Jan-10
Jul-10
Jan-11
Jul-11
Jan-12
Jul-12
Jan-13
Jul-13
Jan-14
Jul-14
Jan-15
Jul-15
Jan-16
Jul-16
Jan-17
Jul-17
Jan-18
Jul-18
Jan-19
Jul-19
Jan-20
SERIES: Median Price Per Square Feet of Existing Single Family Homes page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
17
 Price/Square Foot: Condo/Townhome vs. SFH

Diff. in Price/Sq. Ft. SFH Condo/Townhome

$450
$394
PRICE PER SQ. FT.

$400
$350
$300
$250 $275
$200
$150
$100
$50
$0
Jan-07
Jul-07
Jan-08
Jul-08
Jan-09
Jul-09
Jan-10
Jul-10
Jan-11
Jul-11
Jan-12
Jul-12
Jan-13
Jul-13
Jan-14
Jul-14
Jan-15
Jul-15
Jan-16
Jul-16
Jan-17
Jul-17
Jan-18
Jul-18
Jan-19
Jul-19
Jan-20
SERIES: Median Price Per Square Feet of Existing Single Family Homes page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
18
 Sales price-to-list Price ratio up from last year

January 2020: 98.4%, 0.1% MTM, 1.1% YTY

100%
Sales-to-List Price Ratio

98%

96%

94%

92%

90%
Jan-07
Jul-07
Jan-08
Jul-08
Jan-09
Jul-09
Jan-10
Jul-10
Jan-11
Jul-11
Jan-12
Jul-12
Jan-13
Jul-13
Jan-14
Jul-14
Jan-15
Jul-15
Jan-16
Jul-16
Jan-17
Jul-17
Jan-18
Jul-18
Jan-19
Jul-19
Jan-20
SERIES: Sales to List Ratio of Existing Single Family Homes page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
19
 Growth of list price vs. sales price

40%
Listing Price Sales Price
30%
YTY% Chg. in Price

20%

10%

0%

-10%

-20%
May-12

May-13

May-14

May-15

May-16

May-17

May-18

May-19
Jan-12

Jan-13

Jan-14

Jan-15

Jan-16

Jan-17

Jan-18

Jan-19

Jan-20
Sep-12

Sep-13

Sep-14

Sep-15

Sep-16

Sep-17

Sep-18

Sep-19
SERIES: Sales to List Ratio of Existing Single Family Homes page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
20
Price grew in all percentiles

Year-over-Year Price Growth

12%
9.8%
10%
8.7%
8.0%
8% 7.5% 7.1%
7.0% 6.7% 6.9% 6.9%
6%

4%

2%

0%
0-20 20-40 40-60 60-80 80-100 80-85 86-90 91-95 96-100
Percentile

SERIES: Median Price of Existing Single Family Homes page

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
21
 YTY% Chg. in Price

-5%
10%
15%
20%

0%
5%
Jan-18
Feb-18
Mar-18
Apr-18
May-18
Jun-18
0-20

Jul-18
Aug-18
Sep-18
20-40

Oct-18
Nov-18
40-60

Dec-18
Jan-19
Feb-19
60-80

Mar-19
Apr-19
May-19
80-100

Jun-19
Jul-19
Aug-19
Top end of the market price growth moderates

Sep-19
Oct-19
Nov-19
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
SERIES: Percent Change in Price

Dec-19
Jan-20
22
page
 Market Velocity

50.0%

-50.0%
100.0%
150.0%

-150.0%
-100.0%
0.0%
Dec-08
Mar-09
Jun-09
Sep-09
Dec-09
Mar-10
Jun-10
Sep-10
Dec-10
Mar-11
Jun-11
Price Growth

Sep-11
Dec-11
Mar-12
Jun-12
Sep-12
Dec-12
Mar-13
Jun-13
Sep-13
Dec-13
Mar-14
Jun-14
Sep-14
Dec-14
Mar-15
Jun-15
Sep-15
Dec-15
Mar-16
Jun-16
Sep-16
Dec-16
Mar-17
Jun-17
Sep-17
Dec-17
Mar-18
California Market Velocity and Price Growth

Jun-18
Sep-18
Dec-18
Market Velocity (12 month trailing average)

Mar-19
Jun-19
Sep-19
Dec-19
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
SERIES: Market Velocity & Price Growth
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%

-50.0%
-40.0%
-30.0%
-20.0%
-10.0%

23

Existing SFR Median Price

Growth
page
 Lower mortgage rates = to lower mortgage payment

California Median Price vs.

30 Yr. FRM
6% Mortgage Payment
20%
5% 4.46% 15%
4% 3.62% 10%

YTY% Chg.
5% 7.1%
3%
0%
2% -5% -3.2%
-10%
1%

May-16

May-17

May-18

May-19
Jan-16

Jan-17

Jan-18

Jan-19

Jan-20
Sep-16

Sep-17

Sep-18

Sep-19
0%
May-15

May-16

May-17

May-18

May-19
Jan-15

Jan-16

Jan-17

Jan-18

Jan-19

Jan-20
Sep-15

Sep-16

Sep-17

Sep-18

Sep-19
Price Growth Mortgage Pmt Growth

SERIES: Price Growth vs. Mortgage Payment Growth page

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
24
 Mortgage payment continued its decline,
as the pace of price growth slows
California Median Price vs. Mortgage Payment
20%
15%
YTY% Chg.

10%
7.1%
5%
0%
-3.2%
-5%
-10%
Mar-16
May-16

Mar-17
May-17

Mar-18
May-18

Mar-19
May-19
Jan-16

Jul-16

Jan-17

Jul-17

Jan-18

Jul-18

Jan-19

Jul-19

Jan-20
Sep-16
Nov-16

Sep-17
Nov-17

Sep-18
Nov-18

Sep-19
Nov-19
Price Growth Mortgage Pmt Growth
SERIES: Price Growth vs. Mortgage Payment Growth page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
25
 Mortgage payment slightly cheaper

California, January 2019: $2,170, January 2020: $2,100

$3,000

$2,500
Mortgage Payment

$2,000

$1,500

$1,000

$500

$0
Jan-15

Jul-15

Oct-15

Jan-16

Jul-16

Oct-16

Jan-17

Jul-17

Oct-17

Jan-18

Jul-18

Oct-18

Jan-19

Jul-19

Oct-19

Jan-20
Apr-15

Apr-16

Apr-17

Apr-18

Apr-19
SERIES: Mortgage Payment of Existing SFH page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
26
Monthly mortgage: slightly more affordable

Region Jan 2020 Jan 2019 % CHG

CA SFH $2,100 $2,170 -3.2%

Los Angeles
$1,960 $2,020 -3.0%
Metropolitan Area

Central Coast $2,550 $2,540 0.4%

Central Valley $1,230 $1,260 -2.4%

Inland Empire $1,400 $1,430 -2.1%

S.F. Bay Area $3,110 $3,370 -7.7%

SERIES: Monthly mortgage payment page

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
27
 Most counties require lower mortgage payments
Jan 2020: chg. in mortgage payment (yty%)
60% 52.5%
50%
40%
30%
20%
10%
0%
-10% -3.2%
-20%
-30% -24.2%

SERIES: Change in mortgage payment page

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
28
Down payment: grew in most areas

Region Jan 2020 Jan 2019 % CHG

CA SFH $115,032 $107,366 7.1%

Los Angeles
$107,700 $99,890 7.8%
Metropolitan Area

Central Coast $140,000 $126,000 11.1%

Central Valley $67,500 $62,400 8.2%

Inland Empire $77,000 $70,890 8.6%

S.F. Bay Area $170,600 $167,200 2.0%

SERIES: Down payment page

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
29
 Many counties require higher down payments
Dec 2019: chg. in down payment (yty $)
$35,000
$28,900
$30,000
$25,000
$20,000
$15,000
$10,000 $7,666
$5,000
$0
-$5,000
-$10,000
-$15,000 -$10,024

SERIES: Change in down payment page

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
30
 Inventory &
Active Listings
 Unsold Inventory Index ticked up
but down from a year ago
18.0
16.0 January 2019: 4.6 Months; January 2020: 3.4 Months
14.0
Months of Supply

12.0
10.0
8.0
6.0
4.0
2.0
0.0
May-06

May-08

May-10

May-12

May-14

May-16

May-18
Jan-05

Jan-07

Jan-09

Jan-11

Jan-13

Jan-15

Jan-17

Jan-19
Sep-05

Sep-07

Sep-09

Sep-11

Sep-13

Sep-15

Sep-17

Sep-19
SERIES: Unsold Inventory Index of Existing Single Family Homes page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
32
 Supply further constrained at every price level

January 2020

0% Active Listing
-0.3%
YTY % Change

-10%

-20% -17.4%
-30% -26.9%
-31.6% -29.5% -29.3%
-32.8%
-40%

SERIES: Active Listings of Existing Single Family Homes page

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
33
 Unsold Inventory rebounded in all Regions
as less sales deplete fewer listings
9.0
8.0 Bay Area So CA Central Valley
7.0
Months of Supply

6.0
5.0
4.0 3.5
3.0 3.0
2.7
2.0
1.0
0.0
Jan-09
Jul-09
Jan-10
Jul-10
Jan-11
Jul-11
Jan-12
Jul-12
Jan-13
Jul-13
Jan-14
Jul-14
Jan-15
Jul-15
Jan-16
Jul-16
Jan-17
Jul-17
Jan-18
Jul-18
Jan-19
Jul-19
Jan-20
SERIES: Unsold Inventory Index of Existing Single Family Homes page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
34
 Inventory Index tighter than last year
at every price bucket of the market
California Unsold Inventory Index by Segment
18 15.7
Months of Supply

16
14 11.9
12
10 9.1
8 7.1 7.4
6.4 4.6 3.4
6 4.4 5.2 4.4 4.9
3.93.4 4.0 3.5 3.4 3.9
4 3.0 3.0
2
0

Jan-19 Jan-20

SERIES: Unsold Inventory Index of Existing Single Family Homes page

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
35
 Active listings dropped by double-digits;
largest yearly decline since September 2014
Year-over-Year % Chg
40%
30%
20%
10%
0%
-10%
-20%
-30% -26.9%
Mar-15
May-15

Mar-16
May-16

Mar-17
May-17

Mar-18
May-18

Mar-19
May-19
Jan-15

Jul-15

Jan-16

Jul-16

Jan-17

Jul-17

Jan-18

Jul-18

Jan-19

Jul-19

Jan-20
Sep-15
Nov-15

Sep-16
Nov-16

Sep-17
Nov-17

Sep-18
Nov-18

Sep-19
Nov-19
SERIES: Active Listing of Existing Single Family Homes page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
36
 Housing supply tightened up in all regions

Jan-19 Jan-20
30,000 27,559
25,000
Active Listings

20,000 18,405

15,000

10,000 9,460
7,052
5,260 3,844
5,000
2,182 1,855
0
San Francisco Bay Southern California Central Valley Central Coast
Area
SERIES: Active Listings of Existing Single Family Homes page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
37
 Inventory did not get replenished

January 2020
Sales Active Listings

20% 15.7%
9.5% 10.8%
Year-to-Year % Chg

10%
0%
-1.1%
-10%
-20% -15.0%

-30% -26.9% -25.5%

-33.2%
-40%
San Francisco Bay Southern California Central Valley Central Coast
Area
SERIES: Sales and Listings of Existing Single Family Homes page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
38
Active listings tightened up

California Active Listings by Month

70,000
60,000
50,000
40,000
30,000
20,000
10,000
0

2018 2019 2020

CALIFORNIA ASSOCIATION OF REALTORS®

page
39
Market Competitiveness
 Time on market ticked up

80 California, Jan 2019: 38.0 Days; Jan 2020: 31.0 Days

70
Days on Market

60
50
38.0
40
31.0
30
20
10
0
May-06

May-08

May-10

May-12

May-14

May-16

May-18
Jan-05

Jan-07

Jan-09

Jan-11

Jan-13

Jan-15

Jan-17

Jan-19
Sep-05

Sep-07

Sep-09

Sep-11

Sep-13

Sep-15

Sep-17

Sep-19
SERIES: Median Time of Market of Existing Single Family Homes page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
41
Median time on market down except top percentiles

Median Time on Market

60 55
50
44
Days on Market

38 39 3737 38 37
40 36 3736
33 32 3434
28 29 28 28 30
30

20

10

0
0-20 20-40 40-60 60-80 80-100 80-85 86-90 91-95 96-100 Total
Percentile
Jan-19 Jan-20

SERIES: Median Time on Market of Existing Single Family Homes page

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
42
 Sales-to-list price ratio up at every percentile

California Sales-to-List Price Ratio by Quintile

100.5% 100.0% 100.0% 100.0%
100.0%
99.5% 99.4%
99.0%
99.0%
98.4% 98.4% 98.5%
98.5%
98.0%
97.5%
97.0%
97.0%
96.5%
96.0%
95.5%
95.0%
0-20 20-40 40-60 60-80 80-100 80-85 86-90 91-95 96-100
Jan-19 Jan-20
SERIES: Sales to List Ratio of Existing Single Family Homes page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
43
 Median sales vs. list price growth $1M+ properties

California Median Sales vs. List Price Growth

15%
YTY% Chg. in Price

10%

5%

0%

-5%

-10%
Dec-11
May-12

Mar-13

Dec-16
May-17

Mar-18
Jan-09

Jul-11

Oct-12

Jan-14

Jul-16

Oct-17

Jan-19
Jun-09
Nov-09
Apr-10
Sep-10
Feb-11

Aug-13

Jun-14
Nov-14
Apr-15
Sep-15
Feb-16

Aug-18

Jun-19
Nov-19
Listing Price Sales Price

SERIES: Sales to List Ratio of Existing Single Family Homes page

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
44
 Reduced-Price Listings

Share of Listings with a Reduced Price: 30.2%; Median Reduction Amount: -4.2%

50% 0%
45% -1%
40% -2%
35% -3%
30% -4%
25% -5%
20% -6%
15% -7%
10% -8%
5% -9%
0% -10%
11/1/2010

12/1/2012

10/1/2013

11/1/2015

12/1/2017

10/1/2018
1/1/2010
6/1/2010

4/1/2011
9/1/2011
2/1/2012
7/1/2012

5/1/2013

3/1/2014
8/1/2014
1/1/2015
6/1/2015

4/1/2016
9/1/2016
2/1/2017
7/1/2017

5/1/2018

3/1/2019
8/1/2019
1/1/2020
Share Reduced Median Reduction
SERIES: Listing Price of Existing Single Family Homes page
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
45
 Growth in Reduced-Price Listings

Growth in Share of Listings with a Reduced Price: -4.7%

Growth in Median Reduction Amount: 0.1%
10% 0.10%
8% 0.05%
6% 0.00%
4% -0.05%
-0.10%
2%
-0.15%
0% -0.20%
-2% -0.25%
-4% -0.30%
-6% -0.35%
11/1/2015

11/1/2016

11/1/2017

11/1/2018

11/1/2019
1/1/2015
3/1/2015
5/1/2015
7/1/2015
9/1/2015

1/1/2016
3/1/2016
5/1/2016
7/1/2016
9/1/2016

1/1/2017
3/1/2017
5/1/2017
7/1/2017
9/1/2017

1/1/2018
3/1/2018
5/1/2018
7/1/2018
9/1/2018

1/1/2019
3/1/2019
5/1/2019
7/1/2019
9/1/2019

1/1/2020
Share Reduced Median Reduction

SERIES: Listing Price of Existing Single Family Homes page

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
46
Thank You