For those who are willing to investigate the sales data in our local areas, here are the detached-home sales from the last 90 days. Poke around a little, and I doubt you’ll believe that we’re getting ‘creamed’.
NW Carlsbad 92008 sales – last 90 days
SE Carlsbad 92009 sales – last 90 days
NE Carlsbad 92010 sales – last 90 days
SW Carlsbad 92011 sales – last 90 days
Encinitas 92024 sales – last 90 days
La Jolla 92037 sales – last 90 days
Rancho Santa Fe 92067 sales – last 90 days
Del Mar 92014 sales – last 90 days
Solana Beach 92075 sales – last 90 days
Carmel Valley 92130 sales – last 90 days
The highlights: three RSF sales over $10 million in the last 90 days; nine sales above $5,000,000 in La Jolla (and 60 sales overall!), 81 sales in Encinitas – more than one every business day; and of the 182 sales in Carlsbad, 46 of them were $2,000,000 and higher.
Don’t mean to get all conspiracy theory on you but it sure feels like media groups are working with government to “jaw bone” down the housing market.
From what I’ve seen nothing other than interest rates going up has changed for the last 4-5 years.
You can still get crazy mortgages. Qualification hasn’t gotten overly cumbersome. I’m sure sellers are willing to buy down buyers mortgages to get them into the 4-5% range.
Unless some kind of meaningful changes occur in Supply or Financing my prediction is plateausville for a couple of years.
It sure seems like it – and the Russian bots have dropped Trump and gone all in on bashing real estate now! At least on twitter! 😆