Recently the president of the local association of realtors was asked what the real estate market will do in the future. His response: "Nobody knows what the market is going to do in the future". Of course, immediately after that comment he said, "Interest rates have...
The local real estate market between La Jolla and Carlsbad has been fairly healthy lately, and feels in better shape than it did last year at this time when we were still getting over the initial shock or higher rates. How will the rest of this year turn out? The...
The local index is about where it was last month AND last year at this time. It is 3% below the peak of last May, and +9.6% year-to-date. It wouldn't surprise me if it slides downward ~3% the rest of 2023, then up ~3% in the first half of 2024, then down ~3% in the...
The Fed paused alright - Jerome just talks up the rates now! Rates moved only moderately higher on Wednesday after the Fed rocked the bond market with its updated rate forecasts. To reiterate yesterday's analysis, it's not that the market is expecting the Fed to be...
We are back to peak pricing! But it sure doesn't seem like a good time to sell your house, and as a result, most potential sellers will pack it in and wait until The Home-Selling Season of 2024. Is there anything wrong with waiting until next year? Mortgage rates...
Now that's more like it - 100 economists were surveyed last month and the average guess of annual home appreciation was back in the comfortable 3% zone. But I dug a little deeper to find the list of economists and their individual guesses, and there was more variance...
An article published yesterday included some guesses about the future of the real estate market over the next five years. For those who thought it would be the usual expert opinions touting 3% appreciation per year, you won't be disappointed, though Larry did throw in...
Bob was like all the others and predicted a 10% drop in prices because of higher rates. Now he's joined us on the seasonal bandwagon. An excerpt from this article: Fast-forward to 2023, and Shiller is once again closely watching the U.S. housing market after its...
This article gets into the usual topics for those trying to forecast the future: https://www.investopedia.com/what-housing-experts-anticipate-for-the-last-half-of-2023-7555067 Their experts think that mortgage rates will ease for the rest of the year, which will cause...
I doubt we'll ever see this again. Even though we've had healthy gains in 2023, the YoY declines makes it look like we're going backwards because the index was rising so quickly last year. Hard to imagine any more MoM gains of 3.8% or 4.6%! April's index is about the...
