Not only does the current level of showings make up for the dip we had at the beginning of the Covid-19 market, but the 7-day moving average was higher on Saturday than all but two days this year (now 225% higher than it was during the first week of 2020). As long as...
Market conditions are subject to change! Hat tip to just some guy for sending in this article: In five years as a San Francisco real estate agent, Emily Beaven has never experienced such a dry spell. She has several condos on the market right now that she’s...
My friend Ken Perlman at JBREC consults with new-home builders primarily, but these thoughts apply to the resale market too - notably, the 65+ generation growing by 17 million people in the next ten years! With the national housing market surging, active adults have...
Who is selling? The chart below tracks when the home was purchased by the sellers. Today’s numbers are from those sales closed between Aug 21-31 of this year: Year Purchased 12/13/16 4/3/17 6/30/17 12/4/17 2/16/20 9/28/20 0 – 2003 57% 48% 32% 47% 34% 29% 2004 – 2008...
With the nation’s economy climbing out of a COVID-19 hole, home sales continue at a record pace. Total existing-home sales rose 2.4% from July to a seasonally-adjusted annual rate of 6 million in August. Sales were up 10.5% from a year ago. After plummeting in March,...
From the LAT: In the middle of a global pandemic, Southern California home prices keep setting records. The six-county region’s median price reached $600,000 in August, up 12.1% from a year earlier, according to data released Wednesday by DQNews. That was the largest...
We know that the ultra-low mortgage rates and tight inventory have been driving the market wild. But here's an extra boost - the strict mortgage underwriting that began in April is being relaxed: Credit Loosening: According to the NFCI credit index, a composite...
After another weekend of multiple-offer situations where the listing agents made no attempt whatsoever to create a bidding war, and instead just shut down the showings, it's hard to believe there is any downturn coming our way. When you can get a mortgage rate in the...
We are hitting peak performance when the median sales price is going up around 2% per month. With the wicked combination of low inventory and rates, it could continue - and after a year we could be up +24%! It reminds me of my first blog post from 2005, which was the...
Our Serra Mesa townhouse listing garnered five offers - one at list price, and four over! It will be the highest sale in the history of the complex. Hat tip to 'just some guy' for sending this in: In the ultra-competitive Westchester market, the odds were stacked...
