The prognostications are coming in about the direction of home prices. It's easy to predict that the market won't be as hot as it's been (or will it?). The Burns forecast will be as good any of the guesses, and don't be surprised if all of them end up predicting a...
I was asked, "Can you sum it up in one sentence?" Yes - the inferior homes won't be selling as fast, or for as much, as the superior homes. There should be a gap - a sizable gap - between inferior and superior homes. But over the last year, it got squeezed and those...
The number of NSDCC first-half sales are 15% higher than the 2017-2019 average number of sales, and THE MEDIAN SALES PRICE IS +32% YoY: NSDCC Sales, Jan 1 to June 30 Year # of 1H Sales Median SP # of Sales Over $2M Over $2M/Total Sales % 2017 1,585 $1,225,000 292 18%...
“We’re starting to see what a difference just a slight uptick in inventory and listings can do to help lessen the buying frenzy and create a sense of normalcy,” said C.A.R. President Dave Walsh (California). ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Fewer showings than in the first week of January? Well, the market was cooking right up to Christmas and then fired up quickly again this year, which created a solid 12-month frenzy. But now there are fewer showings than in 2019 too? How did that turn out? You can say...
Random thoughts: Having 130 NSDCC homes in June sell for $100,000+ over list price should be an all-time record. If we had half that many, it would be astonishing! But those were decisions made in April and May. It feels like the market is in the deceleration stage,...
As we roll into the post-frenzy era, we'll see more national news about the changes - but all we know for sure is that it's less hot than it was. Note the gray line above. Fannie Mae said "Consumers are increasingly adamant that it's a good time to sell, bad time to...
The percentage of buyers who were willing to pay over list reached another all-time high in June: NSDCC Detached-Home Sales, % Closed Over List Price January: 38% February: 43% March: 53% April: 55% May: 54% June: 59% There were 37% of the total sales that closed for...
The Covid Frenzy has had remarkable shift in market efficiency like we have never seen. Historically, we have had so many listings that 35% to 40% of them didn't sell. This year we had 977 listings hit the market in 1Q21, and 80% of them have already closed escrow! ...
There are so many projects underway in downtown Carlsbad that I couldn't get them all into one video - here's a start:
