Our home values have been detached from "key economic factors" for years. More interesting would be studies that analyze what would happen to areas that are full of the older tract homes (1980s and before) that haven't been improved much and are dumped onto the market...
How does the market keep levitating? The number of U.S. dollar millionaires has risen sharply since the beginning of the 21st century. In 2000, there were 14.7 million millionaires worldwide, a fourfold increase in twenty years (300 percent). If we compare this figure...
Mortgage rates have come down 1% in the last few weeks, and the casual observers are hoping it means that the Big Turnaround will commence in the Spring of 2024. But for a full-fledged frenzy to break out, home prices would have to drop too. We'll never learn much...
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...
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...
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!
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...
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:
