The author first explored this topic in 2015, and this follow-up article was published in February: Welcome to the Brave New Housing Cycle: Factors indicate that an extended housing boom is underway. A new long-term housing boom is upon us. And COVID-19 is the main...
Here are the big hitters in the L.A. luxury market talking about today's conditions, and the PLS:
Highlights from the CB CEO: 20% of all homeowners are considering selling in the next 12 months. 40% are thinking of upsizing. 30% want to cash out (probably the downsizers). 30% would move because they can work from home, and 40% to 60% would leave their city or...
Previously we experienced a healthy market when actives outnumbered pendings 2:1. Then as the market heated up, we got used to the 1:1 ratio. Now we have areas where the ratio is more than 1:2! NSDCC Detached-Home Active and Pending Listings Town or Area Zip Code...
This morning we have more homes in escrow than we have for sale! NSDCC Detached-Home Listings Listing Status # of Listings Median List Price Active 352 $3,950,000 Pending 353 $1,925,000 Once upon a time I was discussing the actives/pendings relationship with local...
I think we can say that February has been at least as hot as January! It may be irrational exuberance, but it's going to continue until there is significant boost in supply. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
I'm not sure a 30-minute TV show will change anyone's destiny, but hey, at least they are trying: As part of C.A.R.’s 2021 consumer advertising campaign, the Association has partnered with ABC to be the presenting sponsor of their new documentary, California Dreaming....
Historically the market has felt healthy and balanced when we've had a 2:1 ratio of actives vs. pendings. Remember when the Ranch was 10:1 for years? Now look at the market - especially on the lower-end: NSDCC Actives and Pendings Town or Area Zip Code Actives...
We are only able to sell what's for sale, so the direction of the frenzy depends on inventory. If we get a surge of inventory, then sales will increase. If we don't get a surge of inventory, then bidding wars and prices go crazy. We saw the differences here where the...
Rapidly-increasing home prices are nothing new in San Diego:
