Let's revisit yesterday's graph and add the sales to compare the relative health of the market. If higher mortgage rates were stopping home buyers, then sales would plummet, especially in relation to the number of listings. But if the number of listings plummets too,...
There were 182 NSDCC listings in January, as of today - which means we have a clear winner, even if a few more listings get added by late-reporters. Congratulations Rob Dawg! The season starts on March 30th, and May looks like a great month to attend a game. What...
When mortgage rates started going up last year, I said all we have to do is survive until springtime - and it looks like we've made it! Not only did our local market not crash and burn, it held up pretty well - and that's in spite of the higher rates and blistering...
I was confident that in the last few months of 2022 we would reach at least 100 detached-home sales between Carlsbad and La Jolla. We are up to 102 in December, after closing 118 in November! I wasn't so hopeful about January. As of today, there have been 68 closings...
I was going to ignore one more forecast by a financial services company (what do they know about selling homes?), but this is from the squid, plus Derek mentioned it in the comment section. None of these forecasts provide any evidence or reasons for their conclusions....
The reason for breaking down the active and pending listings by zip code is to give the readers a closer look at their neighborhood stats. We have considered a 2:1 ratio of actives-to-pendings to be a healthy market. When there were more pendings than actives, the...
The chart above shows that there were 61 new NSDCC pendings through January 16th last year - when mortgage rates were in the low-3s and we were in full frenzy mode. Through the 18th, there are 62 new pendings this month! We are on about the same pace as last year? Who...
Yesterday, we saw that there has been a flurry of new pendings this month. Could it be a result of brave buyers who have lowballed the sellers? We won't know until they close escrow. But there is a direct correlation between how long a home has been on the market, and...
A fantastic start to the new year! In the last week, there were 36 new listings and 34 new pendings! In the previous week, we also had 36 new listings but only 15 new pendings. The total pendings count increased +30% in a week! In the Under-$3,000,000 market, there...
First of all, the calendar was perfectly set up for an extended holiday vacation and for everyone to not come back to work until this week. Mortgage rates are double what they were a year ago so nobody can afford a house, plus it's been raining cats and dogs. It would...
