There have been press releases this week about December sales being down, and our cheerleader was happy to blame the higher rates and low inventory: Lawrence Yun, NAR chief economist, says the housing market's best year since the Great Recession ended on a healthy but...
The inauguration is almost here - Trump will be your president on Friday! How will he affect our local real estate market? His detractors are aghast over his tweets, but Trump keeps them coming. In spite of their bombastic nature, I think we are already numb to his...
How to measure the current housing data to identify how the market breaks in 2017.
Rich Toscano's latest housing data rodeo: http://piggington.com/november_2016_housing_data Considering the higher pricing, this year has been spectacular, statistically. Thanks Rich! Save
Here's the update on last month. There were two fewer business days in 2014, and one less business day in 2013 and 2015 (same # in 2012). With both sales AND pricing being this strong, the momentum should carry over to 2017.....and I think we'll get off to a fast...
Mortgage rates calmed down yesterday, retreating back to 4.125%, but with all the hysteria about Trump, things sure seem unsettled. How will we know if our local market is getting into trouble? Watch three things: Inventory/sales relationship High-end market...
There was one more business day last month than there was in November, 2015, but it's impressive to just keep up with previous years when we are at higher price points. NSDCC November Sales Year # of Sales Median SP Average $/sf 2012 241 $885,000 $415/sf 2013 187...
The share of homes selling above asking price edged up from 27 percent a year ago to 28 percent in October. Conversely, the share of properties selling below asking price dropped to 44 percent from 47 percent in October 2015. The remaining 28 percent sold at asking...
What is the consensus on the Trump impact on our local real estate market? After speaking to agents on broker preview the last couple of days, I think we can divide the buyer pool into two camps: There have never been more reasons to wait-and-see. But some buyers will...
It would be natural to assume that sales start dropping off once we get into November. But do they? Not really. November has the most holidays of the year (three) when the county recorder's office is closed. Let's compare the number of NSDCC closings per business...
