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Distressed SalesPress ReleaseJuly 22, 20151Share of Equity Sales has remained near 90% since the mid of 2014SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS 22Over Nine of Ten Sales Were Equity SalesSERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS California: June 2015

3Share of Equity Sales has remained near 90% since the mid of 2014SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS 4REO sale: REO is an abbreviation for a REAL ESTATE OWNED property. A real estate owned property indicates that the property in question has been foreclosed on and has been taken back by the mortgage lender or trustee. REOs and FORECLOSUREs are not the same thing, however. An REO is only produced as a result of an unsuccessful foreclosure, in which a buyer for the property cannot be found, and so the mortgage lender repossesses the property to sell separately.

Short sale: A short sale occurs when a property is sold and the lender agrees to accept a discounted payoff, meaning the lender will release the lien that is secured to the property upon receipt of less money than is actually owed.

Share of Distressed Sales dipped to the lowest level since Late 2007 SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS 5Distressed SalesPercent of Total Sales, Bay Area: June 2015SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS 6Distressed SalesPercent of Total Sales, Southern California: June 2015SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS 7Distressed SalesPercent of Total Sales, Central Valley: June 2015SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS 8Distressed SalesPercent of Total Sales, Rest of California: June 2015SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS Tehama data not available. 9

Share of Distressed Sales by CountyPercent of Total Sales: 1 of 3SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS 10Share of Distressed Sales by CountyPercent of Total Sales: 2 of 3

SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS 11Share of Distressed Sales by CountyPercent of Total Sales: 3 of 3

SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS 12REO & Short SalesPercent of Total Sales, Bay Area: June 2015SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS 13REO & Short SalesPercent of Total Sales, Southern California: June 2015SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS 14REO & Short SalesPercent of Total Sales, Central Valley: June 2015SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS 15REO & Short SalesPercent of Total Sales, Rest of California: June 2015SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS 16REO Sales by CountyPercent of Total Sales: 1 of 3

SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS 17REO Sales by CountyPercent of Total Sales: 2 of 3

SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS 18REO Sales by CountyPercent of Total Sales: 3 of 3

SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS 19Short Sales by CountyPercent of Total Sales: 1 of 3

SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS 20Short Sales by CountyPercent of Total Sales: 2 of 3

SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS 21Short Sales by CountyPercent of Total Sales: 3 of 3

SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS 22Median Price of Equity Sales in June inched up slightly from MaySERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS 23The statewide median price of non-distressed properties sold in June was $430,000, $130,000 or 43.3percent higher than the short sale median price of $320,000 recorded in June , and $205,000 or 91.1 percent higher than the June REO median price of $300,000. The median price of equity sales in June was 34.6 percent higher than the median price of $319,425 recorded at the recent trough in Jan 2012.

The median price of Equity Sales Bounced back after a Slight Dip in MaySERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS yty% chg. in Price2424Unsold Inventory Index SERIES: Distressed Unsold Inventory Index, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS UNSOLD INVENTORY INDEX (MONTHS)California: June 201525Active Listings remained at low levelsSERIES: Distressed Unsold Inventory Index, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS UNSOLD INVENTORY INDEX (MONTHS)California: June 201526Unsold Inventory for Equity Sales down to lowest level in 18 monthsSERIES: Distressed Months Supply of Inventory, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS UNSOLD INVENTORY INDEX (MONTHS)2727Equity Sales increased by double-digits from last YearRaw# of Equity Sales, REO, & Short-SalesSERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS 28FOR INTERNAL USE ONLYDistressed Sales Continued to Decline, especially for Short Sales(% Change in Sales Year to Year)SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS 29Distressed Sales Continued to Decline, especially for Short SalesSERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS yty% chg in sales30Distressed SalesPercent of Total Sales: June 2015SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS 31Distressed SalesPercent of Total Sales, Southern California: June 2015SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS 32Distressed SalesPercent of Total Sales, Central Valley: June 2015SERIES: Distressed Sales, Not Seasonally AdjustedSOURCE: CALIFORNIA ASSOCIATION OF REALTORS 33Sheet1Type of SaleJun-15May-15Jun-14Equity Sales92.4%92.6%89.9%Total Distressed Sales7.6%7.4%10.1%REOs3.5%3.6%4.4%Short Sales3.7%3.4%5.4%Other Distressed Sales (Not Specified)0.4%0.4%0.3%All Sales100.0%100.0%100.0%

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