If buyers are looking for good news today.....the last three Januarys had the lowest pricing of the year. If you can just find something to buy! Statewide graph above, Southern California below.
Medians
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Sales and Price Check
63% Chance of Getting A Discount in SD
But not much of a deal - maybe 2% or 3% under list price on average. Stats for detached-homes sold in San Diego...
NSDCC December Sales
Hard to get too concerned about a 10% drop in sales YoY, when inventory was down more than that, and the rest of the stats held up nicely: NSDCC December Sales Year Number of Sales Avg. Cost Per SF Median SP Avg Days on Market 2013 211 $485/sf $1,075,000 60 2014 250...
NSDCC November Sales
Much like in the last presidential election cycle of 2012, the November, 2016 sales were high, and led to a frenzied selling season the following spring (we had 4% more NSDCC sales in 1H17 than in 1H16). But sales were solid last month too, which hopefully means...
Appraisers’ Opinion of Appreciation
Appraisers in Southern California get together and evaluate the same 300 homes every six months - here's how their values compare to those of CoreLogic (San Diego has the closest gap): LINK An excerpt: Elsewhere in the region, here’s how the battle-of-the-index gaps...
NAR 2018 Forecast
The N.A.R. Annual Conference is wrapping up this weekend. Yunnie revealed the N.A.R. Forecast for next year: Existing-home sales will finish 2017 at a pace of 5.47 million, the best volume in 11 years, but only a scant 0.4 percent higher than last year’s 5.45...
More on September Sales
From the C.A.R. press release: “While it’s encouraging that statewide home sales improved both monthly and annually, the year-over-year sales rate is losing steam, reflecting the persistent shortage of homes for sale and an easing of concern over a surge in mortgage...
Gap Between Median List and Sale Prices
Reader hema-mendo wondered about the mega-gap between the NSDCC median list price, and median sales price for the last 30 days: I don’t get it. Why is the spread so wide? It is a bit alarming to see more than a million-dollar gap between the two: NSDCC median list...
Boom-Bust Comparison
Good to see the California crash of the early 1990s get a mention here. It was a hum-dinger for its time - but they note below that the full recovery only took eight years too. http://www.mortgagenewsdaily.com/10122017_home_prices.asp With home prices nearly back to...
Tipping Point?
LOS ANGELES (Sept. 26) – Even with a strong performance in August closed escrow sales, California pending home sales stalled for the second consecutive month, which suggests a softening in the housing market in the upcoming months, the CALIFORNIA ASSOCIATION OF...
