Market Buzz
Seller vs Buyer Markets
A columnist reflected on history to help measure whether it's a seller's market, or a buyer's market. I like it! House-hunting’s transformation includes several market trends including people moving less often, consumers accessing detailed market info, near-instant...
Higher Rates = All-Cash Market?
Could rates get so high that it turns into a cash-only market? It's heading that way. Of the 118 closings this month between La Jolla and Carlsbad, 45% were all-cash, and it's competitive. My buyers made a cash offer that was $101,000 over list on this one and didn't...
Spring Upswing
In spite of higher rates, the spring selling season has delivered, though the second half of 2023 is TBD. Thanks Steve Harney and Ryan Lundquist for the graphics!
Inventories Soaring Elsewhere
It looks like the San Diego market is surviving the current conditions quite well, while the rest of the country is being crushed by soaring inventory. The Californians must be staying home, and those feeder towns are suffering! Any town that has a +50% increase...
SD Cash Sales
Wondering how the local market can survive higher mortgage rates? It starts with the cash buyers laying the foundation of comparable sales, and financed buyers deciding if they can keep up. Thanks to Julie Chang for posting this data - her thread of comments here:
Inventory Watch – Under $3,000,000
Actives = green, Pendings = blue Last week, a reader suggested that we highlight the Under-$3,000,000 market. It is astonishing that in an area of 300,000 people, there are fewer than 100 houses for sale priced under $3,000,000 (and none under $1,195,000). Our...
Will There Be Others?
Realtors are known to comfort buyers who have lost a bidding war by saying, "There will be others". But will there be? Especially for those at the entry level of every market....where the action is the hottest. Above are the NINE houses that sold under a million...
One More 2023 Forecast
I was going to ignore one more forecast by a financial services company (what do they know about selling homes?), but this is from the squid, plus Derek mentioned it in the comment section. None of these forecasts provide any evidence or reasons for their conclusions....
Higher-End Pendings Since Jan 1
It's impressive to see so many high-enders go into escrow this quickly - these are the NSDCC homes listed over $4,000,000 than have gone pending since the first of the year: Not mentioned above is the listing that hit the MLS on January 3rd, went pending on the fifth,...
