The market has been red hot, and overdue for a breather. It is still cooking around NSDCC, judging by the big hike in average pricing, but the number of sales dropped 21% from the previous month.
Here are the September sales and pricing for NSDCC (La Jolla to Carlsbad):
The overall numbers look great. The DQ report for the Southland:
The typical monthly mortgage payment Southland buyers committed themselves to paying last month was $1,547, down from $1,555 the month before and up from $1,144 a year earlier.
Adjusted for inflation, last month’s typical payment was 35.5 percent below the typical payment in the spring of 1989, the peak of the prior real estate cycle. It was 47.2 percent below the current cycle’s peak in July 2007.