This is my 748th blog post of the year! (641 published and 107 drafts) Let's note how drastic things have changed since rates went up: NSDCC Detached-Home Sales, December 2012: 297 2013: 223 2014: 255 2015: 259 2016: 241 2017: 225 2018: 196 2019: 229 2020: 290 2021:...
Next year is upon us! If there is one word to sum up what to expect in 2023, it's sluggish. Here's why: Dull (not sharp) pricing. Patient buyers. Higher rates. Slow reactions. Those sellers (and their agents) who are bold enough to list their home for sale early in...
The local index peaked in May, so today's local Case-Shiller reading for October is the fourth in a row that reflects the much-higher mortgage rates: San Diego Non-Seasonally-Adjusted CSI changes Observation Month SD CSI M-o-M chg Y-o-Y chg Jan ’21 301.72 +1.4% +14.3%...
It's bad enough that the Fed chairman doesn't know how his actions will affect the markets. If you didn't know, wouldn't you be cautious? Apparently not for Powell, and it seems likely that the Fed will bump their Fed Funds rate another 3/4% in the first half of 2023...
The #1 reason that the real estate market has been in the doldrums over the last few months is because of the inept response from realtors on how to handle it. There hasn't been ANY real guidance or advice coming from NAR and other industry leaders on what to do,...
It would be natural to assume that home buyers are much more concerned about paying the right price today. Certainly, they will be perusing the recent sales very carefully, won't they? I'm not so sure. Putting a sharp price on a home stopped being a priority about 25...
Shadash said, "Right now the only thing propping up prices is limited supply." Indeed, and it's how the pricing got here in the first place. The demand for homes in the San Diego coastal regions has been higher then the supply for decades now, and it's probably not...
WASHINGTON (December 13, 2022) – Lawrence Yun, NAR chief economist and senior vice president of research, forecasts that 4.78 million existing homes will be sold, prices will remain stable, and Atlanta will be the top real estate market to watch in 2023 and beyond....
This is the first time that social media has had the chance to influence the real estate market, and as you can guess, it ain't pretty. There are no guardrails or qualifying of the author's opinion, and as a result, people get away with saying whatever they want....
Yesterday, I offered my take on pricing for the San Diego 2023 real estate market. For those who don't watch videos, I said the overall median sales price will be down 3% next year, with the superior-home sales causing a +5% median sales price among themselves. Where...
