In the last post we saw that the median sales price for San Diego is up 11.2% year-over-year. Let's check the individual areas between Carlsbad and La Jolla, using the combined May/June Y-O-Y data for larger sample sizes: Area # of Sales Median Sales Price Chg Avg...
As the national drought in home supply dragged into its 21st straight month, competition among buyers drove prices up once again. And the fiercest competition was in the Bay Area. A new report from Redfin shows that 73.7 percent of homes sold above the listing price...
Sales have been remarkably steady for the first half of the last three years, with only a slight variance in the sales count: Year # of 1H Sales Median SP Avg DOM Median DOM 2012 1,477 $815,000 86 51 2013 1,670 $919,250 51 21 2014 1,430 $1,020,000 49 24 2015 1,555...
Note that last time the rise in prices was quicker (steeper curve), and it only took about a year - 2006 - to reverse course. This time, the increase looks more reasonable (more-gradual slope), but it still has to look daunting to buyers.
The C.A.R. is using a new metric - market velocity, which is what we've used here frequently to compare monthly solds to new listings: Market Velocity – home sales relative to the number of new listings coming on line each month to replenish that sold inventory –...
We've had it so good for so long, we're bound to have some bouncing around. Our cheerleaders want to make it black and white = sales down, prices up: California pending home sales stumble for fifth straight month in May LOS ANGELES (June 28) – Even with a strong...
NSDCC stats at bottom. LINK The median price of houses and condominiums that changed hands in May in the county zoomed into record territory, with the price of a single-family home crossing the $600,000 mark for the first time, the San Diego Association of Realtors...
The Pending Home-Sales Index dipped 3.3% last week, which helped to fuel more doomer talk (examples here and here). People assume that if the stats don't rise every year, then we have a problem. But doesn't the number of homes for sale affect the outcome? ...
N.A.R. home-sales forecasts are a moving target. In October they guessed 6 million sales for 2017, and in December they said 5.5 million: LINK Single-family existing home sales are set to see their best year since 2006, driven by robust job gains and improving...
http://www.realtor.com/news/real-estate-news/home-prices-rising/ An excerpt: "Prices are increasing faster than we expected them to because of the continual shortage of new homes coming onto the market," says Senior Economist Joseph Kirchner of realtor.com. "People...
