The graph above shows the raw data - how the pendings started to increase as we got into April. It seemed like the action began to slow down just recently, and, sure enough, the rolling averages have been in decline over the last week or two in San Diego - and...
The New Listings graph (above) shows how the raw number of homes listed for sale in the coronavirus era compares to the same time frame in 2019. It shows that 40-50 days after the initial shock, sellers started feeling more comfortable putting their home on the...
When the coronavirus shut down the economy coast to coast, it was natural to assume that the real estate market would take a hit. Being in quarantine would certainly cause sales to plummet, and with 20% to 30% unemployment, prices would follow, right? All that was...
We love the 'burbs! One explanation as to why our pricing has been stout: If millennials once piled into the cities, fueling downtown renewal and growth, apparently they are now piling out. The stay-at-home orders brought on by coronavirus have more potential...
In spite of having about 300 fewer homes for sale to consider, our total number of pendings has exceeded last year's count at this time! A sensational market comeback! There were 59 new pendings between $1.0M and $3.0M in the last week: NSDCC Actives & Pendings By...
Showings are higher than last year, and the number of new escrows is growing! Southern California homebuying rose for the seventh straight week as house hunters put 10.3% more homes into escrow. Still, it’s a buying pace 3.1% below a year ago. Zillow’s weekly report...
Just like the price of gasoline, mortgage rates are very slow to come down, but they tend go up like a rocket - and with the surprising employment news today, we'll probably get back into the mid-3s by Monday. We'll see if the lowest rates in history were the sole...
I called it a Stunning Recovery on Monday, and they used the same words today. Coincidence? 🙂 Hat tip Mitch! If mortgage demand is an indicator, buyers are coming back to the housing market far faster than anticipated, despite coronavirus shutdowns and job losses....
Everything seems like "If" these days, but if we had a market comeback, the dates of a modified and compressed selling season would be fairly predictable, looking at it logically. The actual results will be a matter of compression and intensity. If there isn't much of...
With our tight inventory and ultra-low mortgage rates, it kinda feels like Tesla stock. One minute you're in the $800s, and the next thing you know, the same house is in the $900s! What can buyers do? Buy location. Don't buy crap. Simple enough, right? But it's hard...
