Market Buzz
Inventory Watch
Buyers, sellers, and agents are closing out sales, but the total number of pendings (above) is plunging because new escrows are running about 50% of normal. Last week we had 31 new pendings, and I thought we'd be lucky to have half that many this week. But we had the...
Showings Dropped Off
Listing agents hire Showingtime to schedule appointments for cooperating agents to show a house for sale. As of yesterday, California showings were down 55% from the first week of the year, which doesn't sound so bad for a state that is lockdown. But next week will...
Today’s NSDCC Hotsheet
This looks like just another Friday's worth of activity! We have 29 new pendings since Monday, so we'll be a bit short of the typical 40-60 this week. The C.A.R. issued a directive today, and this should shut down regular operations:...
Coronavirus Lockdown & Real Estate
Happy Lockdown, with no end in sight! California Gov. Gavin Newsom's order marks the first statewide mandatory restrictions in the United States to help combat the outbreak. It went into effect at midnight Thursday, meaning Californians should not leave home except...
Kayla Is Home!
Kayla flew home from Manhattan this morning on Delta - there were only 20 people on the plane! Her Douglas Elliman offices are closed through March 31st and probably longer. Hopefully she didn't bring the bug back with her, but it's better than her catching it there...
Coronavirus Market Check
We're doing fine here at headquarters - how about you? We've primarily worked out of the house for the last 17 years, so we aren't experiencing any disruption just because we're stuck at home. We're still having two listings being prepped for market, and haven't had...
Selling Homes By Video
There isn't a central website for viewing videos of local real estate for sale, so let's do it here. This home has been on the market for a while, but the price is now down to $9,395,000: If you're an agent who wants extra exposure for your listings, send me your...
Coronavirus in Italy
From this twitter thread written on March 12th. We are about 7-10 days behind them: The following thread is taken from an Italian citizen. As they put it: "To the rest of the world, you have no idea what's coming." As I think everybody knows, Italy is on quarantine...
Coronavirus and Home Buyers
From the National Association of Realtors: The coronavirus is having a mixed impact on the housing market. It’s decreasing buyer traffic somewhat—although in still relatively low numbers—but it’s also not deterring some home buyers and sellers from taking advantage of...
