First of all, the calendar was perfectly set up for an extended holiday vacation and for everyone to not come back to work until this week. Mortgage rates are double what they were a year ago so nobody can afford a house, plus it’s been raining cats and dogs.
It would be natural to assume that the real estate market is ‘frozen’, and at best we will have a sluggish start.
Yet the early action between La Jolla and Carlsbad has been sizzling:
NSDCC Listings Marked Pending Since Jan. 1st:
What is impressive is how long these listings have been on the market – the median DOM is 55 days! Wouldn’t buyers lay off those for a few weeks to see where this is going?
Did the sellers dump on price?
Why would they dump on price with the selling season is right around the corner? Surely they would let it run at least 2-3 weeks into January before giving it away, wouldn’t they?