Hello,

Attached are August’s Agent Metrics Report, the Fresno and Clovis Sales Tracking Google Sheet, detailed commentary, and a curated collection of real estate and finance articles. I’ve also included the slides from Jordan Levine’s 2026 California Economic & Housing Market Forecast (these can be found in the supporting statistics link). I trust these resources will provide useful insights to support your continued success.

Fresno and Clovis Real Estate Market Update: August 2025

Key Highlights:

• Median Sold Price: increased to $435,000 in August 2025, up from $429,573 in July 2025 (1.2633%).

• Homes Sold:

  • 479 homes sold in August 2025, down  (-6.2622%) from 511 in July of 2025 (32 fewer homes sold in August than in July)

  • 479  homes sold in August 2025, up (0.4193%)  from 477 in August  2024 (2 more homes).

• Average Days on Market (DOM):

  • August 2025: 37 days, up from July 2025.

  • Homes with no price changes: 18 days.

  • Homes with 1+ price changes: 64 days.

• Sales Price vs. Offer Price:

  • Homes with no price changes: 99.5%.

  • Homes with 1+ price changes: 93.9%.

• Median For-Sale Price: $439,000 vs. Median Sold Price: $435,000.

• Bank-Owned Properties: 3 sold in August 2025, with Other Real Estate Owned (OREO) sales up from 1 sold in July 2025.

• Pending Sales: In August 553 homes went under contract (versus 503 Pending Sales in July), signaling potentially more closings September than August.

• New Listings: 640 new properties were listed for sale.

• Months’ Supply of Inventory (MSI): 2.1 months in August 2025, indicating a tight market.

Inventory Trends:

• 2025 Local MSI:

  • January: 2.7 (vs. NAR: 3.2)

  • February: 2.5 (vs. NAR: 3.0)

  • March: 1.9 (vs. NAR: 2.4)

  • April: 2.6 (vs. NAR: 2.4)

  • May: 2.6 (vs. NAR: 2.8)

  • June: 2.5 (vs. NAR: 2.9)

  • July: 2.6 (vs. NAR: 2.6)

  • August: 2.1 (vs. NAR: 2.5)

• 2024 Local MSI (for comparison):

  • January: 1.9 (vs. NAR: 2.6)

  • February: 2.1 (vs. NAR: 2.2)

  • March: 1.8 (vs. NAR: 1.8)

  • April: 2.0 (vs. NAR: 2.0)

  • May: 2.0 (vs. NAR: 2.2)

  • June: 2.4 (vs. NAR: 2.1)

  • July: 2.1 (vs. NAR: 2.0)

  • August: 2.1 (vs. NAR: 2.2)

  • September: 2.7 (vs. NAR: 2.6)

  • October: 2.4 (vs. NAR: 2.6)

  • November: 2.7 (vs. NAR: 2.5)

  • December: 2.7 (vs. NAR: 2.4)

Market Insight:

The Fresno and Clovis housing markets continue to grapple with limited inventory, though supply is slowly increasing. With the Months’ Supply of Inventory at 2.1 months, the market remains competitive and continues to favor sellers. Pending sales and new listings suggest that sales activity in September will slightly increase compared to August.

Commentary from Jordan Levine’s 2026 California Economic & Housing Market Forecast

This month, I had the opportunity to attend an exceptional presentation by Jordan Levine, Chief Economist for the California Association of REALTORS® (C.A.R.), during the C.A.R. Fall Business Meetings. With Jordan’s permission, I’m sharing several of his key insights, and a few telling slides, from the 2026 California Economic & Housing Market Forecast with my subscribers.

2025: A Daunting Forecast for California Real Estate

Jordan Levine’s revised 2025 forecast projects only 269,000 existing single-family home sales across California. With approximately 190,000 REALTOR® members and assuming two sides per transaction, this translates to just 2.83 transactions per REALTOR®. In California’s high-cost market, this low transaction volume is unsustainable for professionals aiming to maintain a viable livelihood in the real estate industry.

The Underlying Issue: A Profound Shortage of Homes

C.A.R. Past President Steve White described California’s core challenge as an “availability crisis” a label the latest data strongly supports:

• 1970s: 2.15 million residential building permits were issued

• 1980s: 2.06 million permits

• 1990s: 1.1 million permits

• 2000s: 1.42 million permits

• 2010s: 851,000 permits

• 2020s (to date): Only 559,000 permits

California’s population has nearly doubled since the 1970s and 1980s, yet the state now issues about half as many permits as it did during those decades. For comparison, North Carolina, whose population is less than a quarter of ours, has issued nearly as many permits as California so far this decade. This chronic underproduction limits opportunities for both REALTORS® and homebuyers in every corner of the state.

A Changing Landscape: Are We Moving Toward a European Model?

During my time as C.A.R. President, I recall former CEO Joel Singer presenting a sobering possibility: U.S. real estate could gradually mirror Europe’s, where transactions occur much less frequently and properties are more often inherited than sold. Should this trend take root in California, it would threaten both the REALTOR® profession and the broader promise of homeownership that defines the American Dream.

What’s at Stake for REALTORS® and C.A.R.?

Persistently low sales volumes not only jeopardize individual livelihoods, it also threaten the financial sustainability of the trade association. With fewer transactions, many REALTORS® may find it difficult to afford membership dues, putting the trades associations continued effectiveness with advocacy at risk.

A Moment for Leadership and Advocacy

Now, more than ever, C.A.R. must focus squarely on advocacy that spurs new home construction and opens pathways to opportunity for REALTORS® and their clients. The health of the real estate profession, and the future of homeownership in California, depend on bold, intentional action to address our state’s housing shortage.

Articles/Interviews/Presentations/Books that may be of interest:

1. Fed Lowers Rates by Quarter-Point, Signals More Cuts Are Likely

2. Mortgage Rates Are at an 11-Month Low. Will That Save This Housing Market?
   
   
   

View the supporting statistics HERE

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