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Source: Statista
After years of rapid expansion, U.S. solar employment hit a peak of 260,000 in 2016 before stalling amid tariffs imposed by the Trump administation. Those tariffs on crystalline silicon modules and cells were among the factors that caused a contraction in jobs for two consecutive years with the number of people employed in the sector falling to 244,340 by 2018. The Solar Foundation has released its latest National Solar Job Census which has good news for the industry after that period of uncertainty. Employment in solar has grown once again, climbing 2.3 percent to 249,983.
31 states experienced gains in solar employment in 2019 with Florida leading the charge. Proving that it really is America’s sunshine state, Florida experienced an expansion in installations for residential and utility solar along with an increase in the availability of solar leasing which allowed installers to offer customers more attractive financing options. That saw its solar sector add 1,843 jobs, the highest absolute number in any U.S. state. The Southeast of the country was a bright spot in general in this year’s census and its strong job growth was driven by utility-scale expansion and new manufacturing jobs.
Accounting for 40 percent of cumulative U.S. solar capacity with 74,255 jobs, California is still America’s largest solar job market. The census found that its workforce contracted by 3.4 percent, though that was a much slower decline than the 13.6 and 11.1 percent decreases it experienced in 2017 and 2018 respectively. Despite the Trump administration’s support for fossil fuels, solar is starting to enjoy a resurgence thanks to the plummeting cost of the technology and its increased popularity among individuals, businesses and electical utilities. The solar industry accounts for 2.6 percent of total U.S. electricity generation according to federal figures.
– Existing, single-family home sales totaled 395,550 in January on a seasonally adjusted annualized rate, down 0.7 percent from December and up 10.3 percent from January 2019.
– January’s statewide median home price was $575,160, down 6.5 percent from December and up 7.1 percent from January 2019.
– The statewide Unsold Inventory Index was 3.4 months in January, up from 2.5 months in December but down from 4.6 months in January 2019.
Los Angeles, CA – Feb. 19, 2020 (PRNewswire) Continued record low mortgage interest rates sustained California home sales in January as home prices pulled back from one of the highest levels recorded last year, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today.
Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 395,550 units in January, according to information collected by C.A.R. from more than 90 local REALTOR® associations and MLSs statewide. The statewide annualized sales figure represents what would be the total number of homes sold during 2020 if sales maintained the January pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales.
January’s sales total was down 0.7 percent from the 398,370 level in December and marked the second straight month that sales fell below the 400,000 benchmark. Still, sales were up a solid 10.3 percent from January 2019, largely due to weak sales of a revised 358,540 a year ago.
“The strong sales momentum that we saw in the second half of last year carried over into the new year, thanks to favorable homebuying conditions,” said 2020 C.A.R. President Jeanne Radsick, a second-generation REALTOR® from Bakersfield, Calif. “And while home sales were up double-digits from a year ago, it’s important to remember that current sales are being compared to a market that one year ago was at its lowest level in 10 years as economic uncertainties clouded the market outlook while the government shutdown delayed escrow closings.”
The median price was down 6.5 percent from December’s revised $614,880 to $575,160 in January, marking the largest drop in the median price in the last seven years. The price decline was largely due to a change in the mix of sales with lower-priced properties making up a bigger share of the market as well as a seasonal slowdown. The median price climbed 7.1 percent from $536,830 in January 2019. January marked the fourth straight month that the median price registered an annual growth of 6 percent or higher.
“With interest rates on a declining trend again due to concerns about the impact of the coronavirus, motivated buyers will have an opportunity to stretch their purchasing power in the housing market,” said C.A.R. Senior Vice President and Chief Economist Leslie Appleton-Young. “The economic outlook, however, is less clear than a month ago before the outbreak of the disease, and we should expect market uncertainties to continue to linger on for the short term.”
With prices rising faster in recent months as housing inventory continued to shrink, consumer optimism rose both month-over-month and year-over-year for those who believe it is a good time to sell a home. According to a monthly Google poll conducted by C.A.R. in January, nearly two-thirds (62 percent) say it is a good time to sell, up from 56 percent a month ago, and up from 50 percent a year ago. The same motivating factors, however, may have curbed the optimism for homebuying as less than one-fourth (23 percent) of the consumers who responded to the poll believe that now is a good time to buy a home, slightly less than last year (25 percent), when interest rates were 84 basis points higher.
Other key points from C.A.R.’s January 2020 resale housing report include:
Note: The County MLS median price and sales data in the tables are generated from a survey of more than 90 associations of REALTORS® throughout the state and represent statistics of existing single-family detached homes only. County sales data are not adjusted to account for seasonal factors that can influence home sales. Movements in sales prices should not be interpreted as changes in the cost of a standard home. The median price is where half sold for more and half sold for less; medians are more typical than average prices, which are skewed by a relatively small share of transactions at either the lower end or the upper end. Median prices can be influenced by changes in cost, as well as changes in the characteristics and the size of homes sold. The change in median prices should not be construed as actual price changes in specific homes.
*Sales-to-list-price ratio is an indicator that reflects the negotiation power of home buyers and home sellers under current market conditions. The ratio is calculated by dividing the final sales price of a property by its last list price and is expressed as a percentage. A sales-to-list ratio with 100 percent or above suggests that the property sold for more than the list price, and a ratio below 100 percent indicates that the price sold below the asking price.
**Price per square foot is a measure commonly used by real estate agents and brokers to determine how much a square foot of space a buyer will pay for a property. It is calculated as the sale price of the home divided by the number of finished square feet. C.A.R. currently tracks price-per-square foot statistics for 50 counties.
Leading the way…® in California real estate for more than 110 years, the CALIFORNIA ASSOCIATION OF REALTORS® (www.car.org) is one of the largest state trade organizations in the United States with more than 200,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.
January 2020 County Sales and Price Activity | |||||||||
(Regional and condo sales data not seasonally adjusted) | |||||||||
January 2020 | Median Sold Price of Existing Single-Family Homes | Sales | |||||||
State/Region/County | Jan.2020 | Dec.2019 | Jan.2019 | Price MTM% Chg | Price YTY% Chg | Sales MTM% Chg | Sales YTY% Chg | ||
Calif. Single-family home | $575,160 | $614,880 | r | $536,830 | r | -6.5% | 7.1% | -0.7% | 10.3% |
Calif. Condo/Townhome | $467,000 | $477,000 | $435,000 | -2.1% | 7.4% | -25.6% | 15.9% | ||
Los Angeles Metro Area | $538,500 | $550,000 | $499,450 | -2.1% | 7.8% | -18.7% | 15.9% | ||
Central Coast | $700,000 | $700,000 | $630,000 | 0.0% | 11.1% | -32.4% | 10.8% | ||
Central Valley | $337,500 | $342,000 | $312,000 | -1.3% | 8.2% | -21.3% | 9.5% | ||
Inland Empire | $385,000 | $385,000 | $354,450 | 0.0% | 8.6% | -12.8% | 12.9% | ||
San Francisco Bay Area | $853,000 | $908,750 | $836,000 | -6.1% | 2.0% | -35.5% | -1.1% | ||
San Francisco Bay Area | |||||||||
Alameda | $875,000 | $881,500 | $826,000 | -0.7% | 5.9% | -41.2% | -11.0% | ||
Contra Costa | $614,000 | $665,000 | $595,000 | -7.7% | 3.2% | -31.5% | 10.9% | ||
Marin | $1,294,000 | $1,300,000 | $1,149,500 | -0.5% | 12.6% | -42.6% | -1.2% | ||
Napa | $697,500 | $765,000 | $672,500 | -8.8% | 3.7% | -25.3% | 10.7% | ||
San Francisco | $1,460,000 | $1,450,000 | $1,376,500 | 0.7% | 6.1% | -46.2% | -3.1% | ||
San Mateo | $1,422,250 | $1,475,000 | $1,450,000 | -3.6% | -1.9% | -39.7% | -5.8% | ||
Santa Clara | $1,200,000 | $1,225,000 | $1,185,000 | -2.0% | 1.3% | -38.7% | -5.0% | ||
Solano | $449,900 | $455,500 | $428,000 | -1.2% | 5.1% | -23.1% | 11.2% | ||
Sonoma | $667,000 | $647,500 | $650,000 | 3.0% | 2.6% | -26.4% | -6.9% | ||
Southern California | |||||||||
Los Angeles | $617,520 | $641,340 | $566,010 | -3.7% | 9.1% | -22.3% | 16.7% | ||
Orange | $855,000 | $840,000 | $796,500 | 1.8% | 7.3% | -23.7% | 22.1% | ||
Riverside | $415,460 | $420,000 | $400,000 | -1.1% | 3.9% | -11.6% | 16.4% | ||
San Bernardino | $325,000 | $320,000 | $290,000 | 1.6% | 12.1% | -14.6% | 7.6% | ||
San Diego | $660,000 | $655,000 | $610,000 | 0.8% | 8.2% | -19.0% | 14.6% | ||
Ventura | $660,000 | $657,000 | $615,000 | 0.5% | 7.3% | -13.1% | 13.9% | ||
Central Coast | |||||||||
Monterey | $649,500 | $613,250 | $590,000 | 5.9% | 10.1% | -34.0% | -15.7% | ||
San Luis Obispo | $652,500 | $615,500 | $592,500 | 6.0% | 10.1% | -37.1% | 4.7% | ||
Santa Barbara | $675,000 | $770,000 | $725,000 | -12.3% | -6.9% | -25.4% | 35.9% | ||
Santa Cruz | $869,500 | $889,000 | $825,000 | -2.2% | 5.4% | -34.6% | 33.3% | ||
Central Valley | |||||||||
Fresno | $289,950 | $285,000 | $270,000 | 1.7% | 7.4% | -23.4% | 9.1% | ||
Glenn | $315,000 | $252,000 | $225,000 | 25.0% | 40.0% | 66.7% | -25.9% | ||
Kern | $252,000 | $262,900 | $240,000 | -4.1% | 5.0% | -14.7% | 5.4% | ||
Kings | $247,450 | $255,000 | $219,900 | -3.0% | 12.5% | 0.0% | 9.9% | ||
Madera | $334,790 | $285,100 | $260,000 | 17.4% | 28.8% | -19.3% | 21.1% | ||
Merced | $282,950 | $278,800 | $279,990 | 1.5% | 1.1% | -19.3% | 34.6% | ||
Placer | $493,000 | $495,000 | $479,000 | -0.4% | 2.9% | -25.2% | 11.8% | ||
Sacramento | $379,000 | $385,000 | $352,250 | -1.6% | 7.6% | -23.3% | 5.8% | ||
San Benito | $575,020 | $600,000 | $595,000 | -4.2% | -3.4% | -31.9% | 166.7% | ||
San Joaquin | $385,000 | $391,500 | $375,000 | -1.7% | 2.7% | -16.8% | 12.8% | ||
Stanislaus | $330,000 | $335,000 | $305,000 | -1.5% | 8.2% | -20.5% | 4.0% | ||
Tulare | $240,000 | $252,000 | $217,750 | -4.8% | 10.2% | -29.7% | 12.6% | ||
Other Calif. Counties | |||||||||
Amador | $335,000 | $300,000 | $324,000 | r | 11.7% | 3.4% | -18.0% | -16.3% | |
Butte | $355,860 | $351,720 | $376,000 | 1.2% | -5.4% | -5.7% | -35.3% | ||
Calaveras | $343,500 | $339,500 | r | $335,000 | 1.2% | 2.5% | -27.8% | -8.8% | |
Del Norte | $227,000 | $276,780 | $217,000 | -18.0% | 4.6% | -28.0% | -5.3% | ||
El Dorado | $442,120 | $465,000 | $460,000 | -4.9% | -3.9% | -18.1% | 6.7% | ||
Humboldt | $308,000 | $318,500 | $325,500 | -3.3% | -5.4% | -7.1% | 7.1% | ||
Lake | $253,000 | $271,500 | $265,000 | -6.8% | -4.5% | -29.7% | 50.0% | ||
Lassen | $239,000 | $247,500 | $228,500 | -3.4% | 4.6% | -32.0% | -5.6% | ||
Mariposa | $266,000 | $299,900 | $316,120 | r | -11.3% | -15.9% | 8.3% | 62.5% | |
Mendocino | $412,000 | $447,000 | $384,560 | -7.8% | 7.1% | -26.1% | -12.8% | ||
Mono | $780,000 | $400,000 | $782,000 | 95.0% | -0.3% | -26.7% | 10.0% | ||
Nevada | $367,000 | $400,000 | $402,950 | -8.3% | -8.9% | -32.8% | -15.2% | ||
Plumas | $330,000 | $270,500 | $308,240 | 22.0% | 7.1% | -50.0% | 7.1% | ||
Shasta | $282,500 | $275,000 | $271,720 | 2.7% | 4.0% | 5.2% | 1.8% | ||
Siskiyou | $255,000 | $225,000 | $151,000 | 13.3% | 68.9% | -4.8% | 73.9% | ||
Sutter | $327,250 | $308,250 | $277,500 | 6.2% | 17.9% | -11.8% | -3.2% | ||
Tehama | $260,000 | $237,500 | $275,000 | 9.5% | -5.5% | -24.2% | -62.7% | ||
Tuolumne | $309,000 | $292,000 | $299,500 | 5.8% | 3.2% | -6.5% | 26.1% | ||
Yolo | $431,240 | $441,000 | $432,500 | -2.2% | -0.3% | -29.0% | 10.0% | ||
Yuba | $315,000 | $299,850 | $299,000 | 5.1% | 5.4% | -15.7% | -14.5% |
r = revised |
NA = not available |
January 2020 County Unsold Inventory and Days on Market | ||||||||
(Regional and condo sales data not seasonally adjusted) | ||||||||
January 2020 | Unsold Inventory Index | Median Time on Market | ||||||
State/Region/County | Jan. 2020 | Dec. 2019 | Jan. 2019 | Jan. 2020 | Dec. 2019 | Jan. 2019 | ||
Calif. Single-family home | 3.4 | 2.5 | 4.6 | 31.0 | 28.0 | 38.0 | ||
Calif. Condo/Townhome | 3.3 | 2.1 | 4.5 | 31.0 | 28.0 | 36.0 | ||
Los Angeles Metro Area | 3.6 | 2.8 | 5.4 | 32.0 | 31.0 | 42.0 | ||
Central Coast | 4.4 | 2.7 | 4.7 | 44.0 | 38.0 | 36.0 | ||
Central Valley | 3.0 | 2.2 | 3.9 | 24.0 | 22.0 | 31.0 | ||
Inland Empire | 4.1 | 3.3 | 5.7 | 41.0 | 38.0 | 48.0 | ||
San Francisco Bay Area | 2.7 | 1.4 | 3.3 | 31.0 | 27.0 | 36.0 | ||
San Francisco Bay Area | ||||||||
Alameda | 2.0 | 0.9 | 2.6 | 20.0 | 20.0 | 27.0 | ||
Contra Costa | 2.3 | 1.4 | 3.3 | 27.0 | 23.0 | 33.0 | ||
Marin | 3.3 | 1.7 | 4.5 | 63.0 | 59.0 | 50.0 | ||
Napa | 5.0 | 3.6 | 6.6 | 62.0 | 65.0 | 81.5 | ||
San Francisco | 2.7 | 0.8 | 2.7 | 26.0 | 20.0 | 34.0 | ||
San Mateo | 2.7 | 1.1 | 2.8 | 21.0 | 23.0 | 28.0 | ||
Santa Clara | 2.3 | 1.1 | 3.0 | 19.0 | 19.0 | 30.0 | ||
Solano | 3.0 | 2.2 | 4.1 | 39.0 | 38.5 | 50.0 | ||
Sonoma | 4.4 | 3.0 | 3.9 | 68.0 | 56.5 | 69.0 | ||
Southern California | ||||||||
Los Angeles | 3.2 | 2.4 | 4.9 | 26.0 | 24.0 | 36.0 | ||
Orange | 3.4 | 2.3 | 5.4 | 27.0 | 29.0 | 39.0 | ||
Riverside | 4.2 | 3.4 | 6.0 | 39.0 | 36.0 | 50.0 | ||
San Bernardino | 3.9 | 3.3 | 5.2 | 43.0 | 42.0 | 45.0 | ||
San Diego | 3.0 | 2.2 | 4.6 | 23.0 | 20.0 | 28.0 | ||
Ventura | 4.8 | 3.8 | 7.2 | 56.0 | 51.0 | 59.0 | ||
Central Coast | ||||||||
Monterey | 4.9 | 3.0 | 4.9 | 39.0 | 28.5 | 36.0 | ||
San Luis Obispo | 5.9 | 3.3 | 6.5 | 46.0 | 41.5 | 32.0 | ||
Santa Barbara | 3.7 | 2.6 | 3.0 | 35.0 | 35.5 | 42.0 | ||
Santa Cruz | 2.8 | 1.7 | 4.3 | 55.5 | 44.0 | 39.0 | ||
Central Valley | ||||||||
Fresno | 3.4 | 2.5 | 4.5 | 25.5 | 18.5 | 29.0 | ||
Glenn | 3.0 | 5.4 | 3.0 | 63.0 | 24.0 | 47.0 | ||
Kern | 3.0 | 2.3 | 3.7 | 21.0 | 20.0 | 30.0 | ||
Kings | 3.1 | 2.8 | 4.0 | 25.0 | 20.0 | 42.0 | ||
Madera | 5.8 | 4.5 | 7.7 | 45.0 | 27.0 | 41.5 | ||
Merced | 3.6 | 2.7 | 5.8 | 28.0 | 34.0 | 46.0 | ||
Placer | 2.8 | 1.9 | 3.5 | 34.0 | 27.0 | 36.0 | ||
Sacramento | 2.4 | 1.6 | 3.0 | 17.0 | 19.0 | 28.0 | ||
San Benito | 4.0 | 2.5 | 13.2 | 29.5 | 27.0 | 67.5 | ||
San Joaquin | 2.8 | 2.4 | 3.5 | 32.0 | 25.0 | 31.0 | ||
Stanislaus | 2.8 | 2.0 | 3.7 | 24.0 | 20.0 | 33.0 | ||
Tulare | 3.8 | 2.6 | 5.5 | 27.0 | 23.0 | 41.0 | ||
Other Calif. Counties | ||||||||
Amador | 6.6 | 5.4 | NA | 40.0 | 58.5 | 76.0 | ||
Butte | 2.7 | 2.7 | 2.1 | 25.5 | 42.0 | 8.0 | ||
Calaveras | 7.4 | 4.9 | r | 7.1 | 107.5 | 87.0 | r | 66.0 |
Del Norte | 7.3 | 5.1 | 6.5 | 121.0 | 142.0 | 121.0 | ||
El Dorado | 4.7 | 3.6 | 3.6 | 65.5 | 57.0 | 57.5 | ||
Humboldt | 4.4 | 4.2 | 6.1 | 40.0 | 35.5 | 38.0 | ||
Lake | 8.4 | 5.8 | 13.3 | 77.0 | 64.5 | 87.0 | ||
Lassen | 6.6 | 4.5 | 5.8 | 133.0 | 148.0 | 144.0 | ||
Mariposa | 7.3 | 7.4 | 11.9 | r | 88.0 | 67.0 | 67.0 | r |
Mendocino | 9.0 | 6.3 | 9.6 | 109.0 | 68.0 | 59.0 | ||
Mono | 8.7 | 6.9 | 7.0 | 126.0 | 148.0 | 64.0 | ||
Nevada | 5.7 | 3.6 | 4.9 | 62.5 | 34.0 | 54.0 | ||
Plumas | 13.5 | 6.7 | 17.0 | 106.0 | 168.0 | 134.0 | ||
Shasta | 3.8 | 4.0 | 4.5 | 43.0 | 30.5 | 39.0 | ||
Siskiyou | 5.5 | 5.5 | 10.7 | 48.5 | 39.0 | 73.5 | ||
Sutter | 2.5 | 2.2 | 2.2 | 31.0 | 35.0 | 37.0 | ||
Tehama | 8.0 | 5.3 | 2.7 | 52.0 | 91.0 | 73.0 | ||
Tuolumne | 6.2 | 5.8 | 6.4 | 71.5 | 60.5 | 53.5 | ||
Yolo | 3.2 | 2.1 | 3.7 | 40.5 | 29.0 | 34.5 | ||
Yuba | 3.6 | 2.7 | 2.5 | 30.0 | 26.5 | 34.0 |
r = revised |
NA = not available |
SOURCE CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.)