My graphs are focused on North San Diego County’s coastal region (La Jolla to Carlsbad) and Rich covers the whole county with his data. Get more of his scoop here:
https://www.piggington.com/july_2020_housing_data_inventory_hits_new_low
I agree with Rich about pricing, and we are too deep into the year for it to change much now. There will be occasional deals, but for the most part, sellers will just wait until spring rather than give it away.
https://www.piggington.com/september_2019_housing_data_prices_pull_back_supply_remains_low
Rich has done a fantastic summary on the San Diego real estate bubble – read more here:
https://www.piggington.com/shambling_tiny_halting_step_towards_affordability
Rich’s latest graphs are out, and this inventory history above shows how relatively few homes are for sale locally.
The median detached-home list price for the county today is $849,000!
He did mention a reader’s theory that in the era of online search portals, the inventory has become more efficient. Better-educated buyers are making faster decisions these days, which keeps the inventory counts down. But the hot buys have always sold quickly, and the over-abundance of data could be dumbing down the decision-making.
Do buyers just grab a house now?
More of Rich’s graphs here:
Rich’s latest data is up at www.piggington.com.
He mentioned the slightly-negative turn in pricing last month, but I like these two graphs above. The pricing trend is going to bounce around – as long as we have sales counts close to previous years, we’ll be fine.
Rich’s latest assortment of data and graphs are out:
https://www.piggington.com/december_2019_housing_data_highest_monthsinventory_2011_prices_d
Here’s one graph that demonstrates the timing of the selling season:
For sales to spike in March, it means buyers have been jumping to get into escrow right after the Super Bowl – and in some cases, prior to!
But also look at how sales drop off earlier in summer.
In 2018, sales from May to June were flat, when they usually rise.
Closed sales in July – which are a result of buyer decisions made in May and June – typically decline from June’s sales counts, but then last year they really fell apart for the rest of the year. And this graph is for the whole county, whose median sales price is less than half of what it is between La Jolla and Carlsbad.
If you are selling, do not think you’ll stand a better chance, later.
My guess for 2019?
February through April will be the season.
Rich’s latest report – we need to get used to bloated higher inventory counts:
Read the full article here – with 13 more graphs!
Link to Article
Rich’s latest report is out!
The worrisome spike last month did flatten out, but it does make you wonder if we should adjust our sights.
I agree with Rich that the months of active inventory will probably be rising from now on. But if the coastal market had 3 or 4 months of active inventory, it wouldn’t be a bad thing. Rancho Santa Fe is 7+ and doing fine.
Click here for the full report:
More here:
https://www.piggington.com/august_2018_housing_data_cooling_market
This is just a snip of Rich’s latest post – read the full article here:
Link to Full Article
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