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...
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...
Has there ever been a precedent to our current housing frenzy? Yes - back in the 2000-2005 era, which a new blogging guy coined, 'The Golden Age of Real Estate' (bubbleinfo.com was three months old). Note the S&P Index: Date: December 25, 2005 The median price of...
