We're having another amazing month, and should get close to 150 sales! The pricing appears to be holding up nicely too (and more evidence that July's collection of lower-priced sales was an anomaly).
NSDCC September Sales, Preliminary
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Jim’s Take on the Market
State of the Market
The graph above is another way to identify the local pricing trend. If it weren't for the surge of lower-end sales in July, the trend line this year would look all positive. It should mellow out over the rest of the year, and even if it flatlines, the market will be...
Sell In 2024….Or Now?
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...
Future of the Housing Market
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...
Plateau City
This is what it feels like in Plateau City. It's a little bumpy but the pricing looks range-bound. Sales cool off towards the end of the year - even during the frenzy. Surprisingly, last month might end up being the best of the year for sales, and the market should...
San Diego Case-Shiller Index, June
Higher mortgage rates caused the San Diego Case-Shiller index to take a tumble last summer. The decline moderated towards the end of the year and bottomed in January. Since then, it went up 9.3%, which is pretty good appreciation for five months! July and August will...
Migration Trends
From jbrec.com: We now monitor domestic migration trends in near real time, using postal address change forms that are current within a few months. This data has given us far more conviction in expressing a positive demand outlook on 15 markets and a more cautious...
Late-Summer Rally
My thoughts: Sales are holding up nicely here at the end of August - a time when the buyer pool could have, and should have been completely exhausted. With five business days to go plus late-reporters, we should see this month's closed sales get up to 160 or so and be...
Great Wealth Transfer
From Leonard Steinberg at Compass: If you thought the $7 trillion Covid-linked stimulus was big, think again. It is pittance compared to the biggest stimulus that has started and will continue for the next 2 decades amounting to over $80 trillion! Reduced - and...
NSDCC June + July Sales
It's good to see that last month had more sales (159 vs 147) than in June - which also had two more business days! Let's combine the two months to soften the July drop median sales price and compare to previous years. The plunge in sales has to be discouraging to...
