When will we know more about the 2021 frenzy? We already know it's going to be hot - look at the sales count for this month, plus we have 285 pendings: NSDCC December Sales Year December Sales The Following January Sales % Drop-off 2012 181 128 29% 2013 223 184 17%...
Bill has his annual forecast on home prices here: https://www.calculatedriskblog.com/2020/12/question-8-for-2021-what-will-happen.html Here is a snapshot of the forecasts: (I was reading the previous chart wrong when I said that all were forecasting 7% to 10%...
It looks like we are going to set new records in every category this year - and not by a little! NSDCC Annual Sales & Pricing Year # of Sales Median Sales Price Median DOM # of $2M+ Sales 2013 3,083 $949,000 41 392 2014 2,904 $1,020,000 47 434 2015 3,104...
2020 was a truly unprecedented year. With it behind us, let’s look ahead at three housing market trends that are likely during the next three years. First, exceptionally low mortgage rates are likely to be around for an extended period. We expect 30-year fixed-rate...
Remember when it seemed to make sense that because home prices were escalating, people would be buying smaller homes? Boy, did Covid-19 change that - now the larger homes are driving the market, which suggests that the move-up market has come alive: (To keep a healthy...
We are setting all-time records every month now! Year # of Sales Median SP Avg. Cost-per-sf Median DOM 2014 173 $985,000 $489/sf 34 2015 196 $1,173,750 $518/sf 38 2016 244 $1,235,908 $531/sf 28 2017 220 $1,208,487 $524/sf 27 2018 197 $1,300,000 $566/sf 29 2019 219...
What a difference compared to the second half of 2019: San Diego Non-Seasonally-Adjusted CSI changes: Observation Month SD CSI M-o-M chg Y-o-Y chg January ’19 251.30 -0.2% +1.3% Feb 253.69 +0.9% +1.1% Mar 256.40 +1.1% +1.2% Apr 257.63 +0.5% +0.8% May 260.08 +1.0%...
Two interesting graphs from our friends at JBREC: Note how the black line for S. California has gone hyperbolic, relatively, and now leading the pack. Glad to see San Diego so high up the list here - for those looking for new homes, Las Vegas has plenty:...
Let's use their formula (total sales/total listings) to calculate the NSDCC ratios. (their ratios were from June, 2020) NSDCC SFRs Sales/Listings over $1 million June, 2020: 210/392 = 54% October, 2020: 300/328 = 91% We have it good!...
Here's the first look at this month's sales: NSDCC October Sales & Pricing Year # of Sales Avg $$/sf Median SP 2012 189 $382/sf $765,000 2013 276 $494/sf $961,750 2014 263 $463/sf $965,000 2015 234 $473/sf $1,055,000 2016 283 $523/sf $1,075,000 2017 262 $533/sf...
