It's the end of February, yet we're not close to having the same market as last February. Heck, we're fighting to get back to December's numbers: Did you ever think we'd be hoping to just get back to having the same market as in 2021?
Will the Ukraine war have an impact the real estate frenzy? It's likely to have the same effect as rising mortgage rates - it will make buyers want to hurry up and buy something so they can hunker down. But the less-motivated buyers have to be getting to the point...
Even with the list prices reflecting massively-inflated values, nearly half of the homebuyers felt the need to pay over the list price lately: NSDCC Detached-Home Sales, % Closed Over List Price January: 38% February: 43% March: 53% April: 55% May: 54% June: 59%...
The Super Bowl is complete, and the spring selling season begins today! Judging by the quick jump in the total number of pendings, homebuyers aren't waiting around. Mortgage rates have risen faster than any time in the last dozen years, and the number of homes for...
San Francisco is no longer the nation’s least affordable metro area, being surpassed by San Diego, it’s neighborhood to the south. The latest OJO Labs unaffordability report saw San Diego bypass both San Francisco and Los Angeles to become the nation’s least...
There were five new Encinitas Ranch listings that launched last week. All had open houses last weekend, and it was busy (I saw three). It's probably not surprising to hear that the two that went pending were the lowest-priced listings. The 3,501sf house was a...
The new listings of 2022 are only trickling out, but we know that there can be spurts. We're seeing one underway in Encinitas Ranch, where five listings are hitting the market this week! The three Coming-Soons will all change to active listings on Saturday. Buyers -...
We had 1,782 new listings of houses and condos last month, in a county of 3.3 million people? And only 1,332 active listings (I believe that is the count at the end of the month). Look at Phoenix and Las Vegas for comparison, where they have 2x and 3x as many...
Here is some of the evidence of what's been happening lately:
One of the primary questions? How are the kids going to be able to buy a home? If prices just stay at this level, it will be near impossible for local kids to save the down payment and afford the monthly nut when starter homes are selling for around $1,200,000. Plus,...
