Our San Diego Case-Shiller Index is having its best year since 2013, and on track to set a new record later this year!
The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, reported a 6.1% annual gain in August, up from 5.9% in the previous month. The 10-City Composite annual increase came in at 5.3%, up from 5.2% the previous month. The 20-City Composite posted a 5.9% year-over-year gain, up from 5.8% the previous month.
Seattle, Las Vegas, and San Diego reported the highest year-over-year gains among the 20 cities. In August, Seattle led the way with a 13.2% year-over-year price increase, followed by Las Vegas with an 8.6% increase, and San Diego with a 7.8% increase. Nine cities reported greater price increases in the year ending August 2017 versus the year ending July 2017.
“Home price increases appear to be unstoppable,” S&P Dow Jones indexes managing director David Blitzer said, before adding that national “home prices have reached new all-time highs.”
San Diego Non-Seasonally-Adjusted CSI changes:
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The highest reading of the San Diego NSA CSI was 250.34 in November, 2005.
The most-recent low point was 144.43 in April, 2009.
Is there any way to know which percentage of sales are all cash?
Is there any way to know which percentage of sales are all cash?
All SD County, YTD: 3,262 cash/19,767 all = 17%
NSDCC, YTD: 649 cash/2,599 all = 25%
Detached-homes only
Thanks very much, Jim!
Ah, but to parse the data even further…..
of those sales that were cash, where was the cash money being spent? low end? high end?
Freddie Mac and Fannie Mae shouldn’t be involved whatsoever with helping corporations to finance income properties. That goes far beyond it’s mission, and is another aspect to the warped real estate market we enjoy today, as well as the fact that renters must contend with algorithms instead of people. Algorithms don’t give a sh*t, and further supports the “Blade Runnerization” of what’s left of communities. People hunkering down in their declared enclaves, where virtually everyone outside of it is “the other” until proven otherwise. It’s why we have so many yard fences and security doors. Features not to be found beyond ghettos a few generations ago. Now it’s common in urban and suburban middle-class communities.
Another variable coming up to bat is Trump having to unwind a LOT of stock obligations created by the former president, after he decided to “terrorize” hedge fund miscreants back in the day when banks were failing. There’s probably more to it, but as far as I can tell, he printed money, and bought into major indexes, as well as futures. This flipped out predatory hedge funders, because he undermined them taking positions on the downside, since they were never sure when Obama would send “buy” orders to Goldman Sachs. After not too long, they quit shorting, and played ball with the president, monitoring his buy orders coming over the tape, and trading accordingly.
In any case, the massive stock holdings taxpayers are funding without knowing it, have to be unwound. Trump hasn’t even begun, as far as I’ve read. If I had been him, I’d have started strategically unwinding the day after I took office. Anything about 50-plus points on the Nasdaq, and I’d be issuing sell orders. Turn plus 50 days into plus 25 point days, rinse and repeat. I’d also shift the trigger points to keep the hedge fund buzzards off me. I’d consider the loss of profits by the banks the interest they have to pay for being kept alive in the first place.
But… hopefully, Trump knows what he’s doing.