Economic_Forecast_May_22 We're going to be hearing for months about how sales are dwindling. It's mostly due to comparing 2022 stats to last year's numbers, which were the most frenzied-up numbers ever. But it is also due to it being a market for the affluent now....
The new market conditions will bear some resemblance to the past, but to believe that real estate sales will be 'getting back to normal' some day would be full of false hope. Rob Dawg said it long ago - we need to abandon all previous assumptions. Let's start with...
These professors rank today's home pricing relative to the long-term trend for each metro area. San Diego's 24.75% premium only gets us ranked #62 in the nation! Here are the Top 100:...
This is an example of the hysteria being whipped up by the pseudo-experts. They tend to grab fake data, jump to conclusions, and then spread it everywhere. Here is the tweet with comments - he says the +31% is the change between March and April:...
Last year's frenzy was crazy because of the volume - there were enough listings to drive sales higher than usual. This year we don't have as many listings, and it is driving the pricing to astonishing heights: NSDCC Sales and Pricing, April Year NSDCC Detached-Home...
The drastic drop in inventory seems devastating, but check out the closed sales: NSDCC Number of Listings & Sales, First Quarter Year NSDCC Total 1Q Listings Median List Price 1Q Closings Median Sales Price 2018 1,230 $1,592,500 569 $1,323,000 2019 1,277...
Those highlighted in yellow are featured in my NSDCC counts (North San Diego County Coastal region).
What a wild ride lately! It's safe to say we'll never see a March like this again: NSDCC March Sales & Pricing Year March Closings Median List Price Median Sales Price Median Days-On-Market 2015 300 $1,195,000 $1,115,000 48 2016 252 $1,162,500 $1,143,665 50 2017...
The NSDCC detached-home stats in the Jan 1st-to-March 15th period are remarkable: Year New Listings # of Sales Median List Price Median Sales Price Median DOM 2016 1,194 436 $1,146,450 $1,102,792 58 2017 1,040 459 $1,239,500 $1,200,000 53 2018 1,102 420 $1,327,000...
This guy has been drunk on the doom juice for so long that he must never get out of his bunker! If he did, he would see the overwhelming demand for every new listing, even though underwriting standards are strict and rates are going up. Of the 140 NSDCC sales last...
