The sales and pricing resurgence is finally being reflected in the stats.
Here are the preliminary NSDCC detached-home numbers for November:
| Year | # of Sales | Avg. $/sf |
| 2009 | ||
| 2010 | ||
| 2011 | ||
| 2012 |
The 11% year-over-year increase in the average cost-per-sf is impressive, but the 26% pop in sales is just as spectacular, given the low inventory. Late-reporters will tack on at least another 5% to the sales count too.
The buyers are coming in strong, adding to the solid foundation being built – this time with fixed-rate mortgages, not neg-am adjustables:
Conventional loans: 64%
Cash: 27%
FHA/VA: 6%
Other: 3%
Here is another perspective, from Kris Berg:
http://www.sandiegocastles.com/sandiegohomeblog/partying-like-its-2003-multiple-offers-aargh/
Also check the list-price trends in the graphs in the right-hand column >>>>>>>
Buyers are on to Zimbabwe Ben’s plan.
Get a 3.5% 30-year fixed mortgage and let Zimbabwe Ben pay it off for you with inflation.
Bulk buyers are already clearing out any place that cash flows like Phoenix. They are going to make a killing.
That’s one view.