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Yesterday Bill talked about how the median home prices have picked up:

https://calculatedrisk.substack.com/p/median-vs-repeat-sales-index-house-198

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Zillow has also done a reversal on where they think home prices are going.

After forecasting three months in a row that homes in our local zip codes would be rising around 20% in 2022, their most recent guesses dropped to around +16% here:

https://www.bubbleinfo.com/2022/02/07/zillow-way-off/

They have been sending me their forecasts one by one over a couple of weeks.  Here are their forecasts I’ve received at the end of February for our local areas (more to come):

NW Carlsbad, 92008

SE Carlsbad, 92009

NE Carlsbad, 92010

Carmel Valley 92130

Del Mar, 92014

Encinitas, 92024

La Jolla, 92037

Rancho Santa Fe, 92067

West RB, 92127

Can we do +30% two years in a row?  Or is Zillow off their rocker?

They do have something that none of the ivory-tower economists have – the real estate viewer data.

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