San Diego Case-Shiller Index, May

by | Jul 30, 2019 | Jim's Take on the Market, Same-House Sales | 2 comments

We had a solid 1% increase in our local index M-o-M, and it was about the same year-over-year:

San Diego Non-Seasonally-Adjusted CSI changes:

Observation Month
SD CSI
M-o-M chg
Y-o-Y chg
January ’18
248.16
+0.8%
+7.3%
February
250.91
+1.1%
+7.5%
March
253.41
+1.0%
+7.6%
April
255.63
+0.9%
+7.7%
May
257.07
+0.6%
+7.3%
Jun
258.44
+0.6%
+6.9%
Jul
258.49
0.0%
+6.2%
Aug
257.32
-0.5%
+4.7%
Sept
256.13
-0.4%
+3.9%
Oct
255.26
-0.1%
+3.7%
Nov
253.37
-0.6%
+3.3%
Dec
251.68
-0.7%
+2.3%
January ’19
251.30
-0.2%
+1.3%
Feb
253.69
+0.9%
+1.1%
Mar
256.44
+1.1%
+1.2%
Apr
257.63
+0.5%
+0.8%
May
260.17
+1.0%
+1.2%

From cnbc on today’s Pending-Home-Sales increase of 2.8% nationally:

“If mortgage rates remain near recent lows, we could see prices pick back up as a result of improved affordability as well as the possibility of more limited inventory available,” said Danielle Hale, chief economist for Realtor.com.

The supply of homes for sale had been rising for much of this year but flattened in June. Some are predicting inventory will be lower again this fall. That is causing more competition in the market.

“Homes are selling at a breakneck pace, in less than a month, on average, for existing homes and three months for newly constructed homes,” said Yun. “Homeowners’ equity in real estate has doubled over the past six years to now nearly $16 trillion. But the number of potential buyers exceeds the number of homes available. We need to see sizable growth in inventory, particularly of entry-level homes, to assure wider access to homeownership.”

Regionally, the Realtors’ pending home sales index rose 2.7% in the Northeast month-to-month and was 0.9% higher than a year ago. In the Midwest, the index grew 3.3% monthly and 1.7% annually. In the South, the index increased 1.3% monthly and 1.4% annually. In the West, pending sales jumped 5.4% monthly and were 2.5% higher than a year ago.

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Jim the Realtor
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2 Comments

  1. Rob_Dawg
    Rob_Dawg on July 30, 2019 at 3:43 pm

    The kinds of movements the big brains of real estate are using to predict the market are simply not enough in size, direction or inflection to make any valid predictions. Let’s call it the Great Muddle. I’m tempted to call it the Great Muddle of 2019 but… 😉

    P.S. Mrs Dawg tells me your 1 year Compass anniversary present rode round in her company car for a week unmailed so it should be arriving within a few days.

  2. Jim the Realtor
    Jim the Realtor on July 30, 2019 at 4:57 pm

    the Great Muddle of 2019…

    Yeah, you might be early again. It could get more stagnant than this.

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