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...
In the last couple of years, we've followed how many new listings happen in January. It's been a good indicator of what to expect for the Spring Selling Season! Here is some historical perspective (below). I included the stats from 2009, which was the last time the...
This is my 748th blog post of the year! (641 published and 107 drafts) Let's note how drastic things have changed since rates went up: NSDCC Detached-Home Sales, December 2012: 297 2013: 223 2014: 255 2015: 259 2016: 241 2017: 225 2018: 196 2019: 229 2020: 290 2021:...
The last Inventory Watch of 2022! How does it compare to where we started? Average List-Price-Per-SF of Detached-Homes Between La Jolla and Carlsbad Price Range First Week of January Last Week of December Difference 0-$1,500,000 $832/sf $737/sf -11% $1.5M - $2.0M...
Shadash said, "Right now the only thing propping up prices is limited supply." Indeed, and it's how the pricing got here in the first place. The demand for homes in the San Diego coastal regions has been higher then the supply for decades now, and it's probably not...
