The NSDCC inventory is starting off the new year with virtually identical numbers as it did in 2023! The big difference? Last year everyone thought we had a recession coming, and this year it's all blue sky ahead. At the beginning of 2023, the 30-year mortgage rate...
The big difference between last year and now is that the 2023 pricing has been on a slow steady climb, instead of the tumult caused last year by the sudden upward shift in mortgage rates. San Diego is leading all the higher-end luxury markets for YTD pricing! Another...
Yesterday, Jay Powell shocked the world by declaring three rate cuts in 2024! It was Fed speak of the most unusual order - open and transparent, instead of the opaque mumbling of previous chairmen. The predictions are for rate cuts early in 2024 too. The CNBC survey...
We're in the forecasting time of year! The chart above is from Realtor.com. We are used to the ivory-tower types who don't bother to get out of their office or even pick up a phone. They just shine up their previous guess with some current events, like lower mortgage...
The market is so much different now than it used to be that we should jettison all previous assumptions (paraphrased from a Rob Dawg comment years ago). In the old days, prices would be coming down by now because the demand would have been severely impacted by higher...
While a surge in inventory next year would help to change the market dynamics, there isn't any hard evidence of it happening yet: How many would be considered a surge? If the number of new listings rose 10% or even 20%, would anyone notice? Probably not. Using these...
Ok, ok - yesterday I said that we're at the highest pricing ever, but the San Diego non-seasonally-adjusted Case-Shiller Index isn't quite there yet. But it feels like record pricing around the north county coastal region, doesn't it? The index dropped eight months in...
What a great day! Delivering pies and talking real estate - what a privilege! Talking points you might hear over Thanksgiving dinner. - It's too unaffordable. Prices have to adjust. There will be the occasional seller who gets caught in a pinch and has to sell that...
Zillow CEO Rich Barton weighed in on the bombshell cases in both an investor call and a shareholder letter. Barton’s key comment came early in the call when he said “We also believe complete disruption to the existence of buyer’s agents is improbable for a few...
