The 2021 selling season should be the craziest market in the history of the world. My theory: The covid-19 pandemic has jumbled the usual timing of the elective movers, and we are experiencing a not-natural compression of reasons to move. We will have our Big Three...
Let's note that searching for homes and actually moving are two different things - which goes for the previous Zillow article too about searches being equal to last year.
We know that covid, and it's impact on schooling in particular, is causing some people to want more space around them. Bigger houses, with bigger yards, are becoming more desirable.....and buyers are scrambling to get situated and comfortable before school starts -...
If the Big Three reasons why people move (death,divorce, & job transfers) start to increase, we'll have more inventory next year - how much is too much? If absence makes the heart grow fonder, what happens when you're stuck at home all day with your spouse? Some...
My video on Monday touched on the different groups of buyers and sellers that should be very active in the 2021 selling season. Let's break it down further, shall we? SELLERS Boomer liquidations - When we first started talking about boomer liquidations, people in...
Mortgage rates hit an all-time low yesterday! Combine the improved purchasing power with the covid-delayed selling season and the lowest inventory in recent history, and we have full-blown frenzy conditions. Look at how July wound up: NSDCC July Sales & Pricing -...
With mortgage rates staying under 3% this past week, more people were out looking at homes - a whopping 66% more than last year! It should be a full-tilt boogie for the next few weeks. Hopefully buyers can get their hands on something suitable! My calendar from...
We are 24 hours into having our new listing on the market and it's already been shown six times and we have three offers - and all are over the list price! I heard a rate quote today of 2.55% with less than a point cost, which feels like free money. As long as buyers...
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...
