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