Rates matter. We gave credit to the ultra-low rates when they were in the 2%-range for helping to create the frenzy. Likewise, higher rates will have something to do with the way the market turns out in 2022. It's not because the payment are so much different. When...
Rising rates may discourage the regular home buyers, but they aren't the market-makers. All that matters is how many of the desperate-buyers-full-of-cash are left, and with the new listings trickling in, we only need a few! It's Thursday and thus time once again for...
Of the NSDCC detached-home sales in February, 60% of them closed above their list price. The majority of buyers are doing it, and we can expect the trend to continue! But how much over? Here are five recent sales that demonstrate the insanity:
This is the third sale that has closed since I set the ER sales-price record of $3,760,000 in November. This just closed for $2,900,000, which was $25,000 under list. For those who are wondering about future prices, this should be an example of the range to expect as...
You may remember the story of my buyers purchasing a home in Bressi Ranch about a year ago. Since then, there have been two more sales on the same street: March 10, 2021: $1,900,000 April 30, 2021: $2,450,000 March 2, 2022: $3,000,000 This is not normal!...
The market is heating up fast and early this year! The majority of home buyers paid over the list price in February, and these were decisions mostly made in January: NSDCC Detached-Home Sales, % Closed Over List Price January: 38% February: 43% March: 53% April: 55%...
It’s early, and the final February sales count will probably wind up around 165-170, which is in line with years prior to 2021. However, the pricing is nuts - and related to the number of homes for sale! Year February Listings # of Sales Median List Price Median Sales...
We can use the SP:LP ratio to gauge how hot the market is. Last year, the ratio was flat heading into the selling season, with February being right at 100.1%. Last month was already up to 103.6%, which is incredible for this early in the year! We just had the hottest...
Yesterday Bill talked about how the median home prices have picked up: https://calculatedrisk.substack.com/p/median-vs-repeat-sales-index-house-198 ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Zillow has also done a reversal on where they think...
The showings and offers are complete, and anxious buyers are awaiting their fate. All but one will be left scratching their head wondering how much the next one will be! https://www.compass.com/listing/3554-camino-arena-carlsbad-ca-92009/988499811730215929/
