The previous period had 86 new NSDCC listings, and 64 new pendings.
In the last week we had a 81:53 mix of new listings and new pendings. Even though mortgage rates zoomed higher, there are no real signs of panic here:
The UNDER-$1,200,000 Market:
Date | ||||
April 29 | ||||
May 5 | ||||
May 9 | ||||
May 18 | ||||
May 23 | ||||
May 30 | ||||
June 5 | ||||
June 11 | ||||
June 17 | ||||
June 24 | ||||
July 1 | ||||
July 8 |
The OVER-$1,200,000 Market:
Date | ||||
April 29 | ||||
May 5 | ||||
May 9 | ||||
May 18 | ||||
May 23 | ||||
May 30 | ||||
June 5 | ||||
June 11 | ||||
June 17 | ||||
June 24 | ||||
July 1 | ||||
July 8 |
We could consider the market ‘normalized’ if the ratio of new actives-to-new pendings gets to 2:1, which should happen in the next couple of weeks.
Pricing in SE Carlsbad’s 92009 zip code has been on the rise too. May’s median sold $/SqFt was +17.1%, similar to the +17.8% in Carmel Valley:
If housing falters there will be a new round of money printing. U heard it here first.
@avgjoe
agreed, you can take that to the bank.
We should be talking about another tax credit in 1-2 years.