I have a new listing this week that we decided to put on range pricing for two reasons; A) we're not doing all the repairs needed, and B) if you only have one price, buyers will want to deduct for repairs, even if the repairs are already priced in. Of the 495 NSDCC...
Yesterday I mentioned the idea of slightly more inventory could lead to more sales and faster-rising prices - but too much could freeze up the demand. Is there history upon which we can reflect? We know that the local market in 2013 reached full-blown red-hot frenzy...
Rich has posted his September report here: http://piggington.com/september_2016_housing_data It is remarkable how similar this year's inventory has been to last year's - and the trajectory is virtually identical as well. Sales have been strong too, in spite of the...
This data is from NSDCAR's HomeDex report - full copy here: san-diego-county-home-sales-september-2016 They include attached and detached homes together - some big increases here:
At the beginning of September, I said that the local market felt hot enough that we could pass the August numbers. Last month had two fewer business days than August, but even if you factor that in, we didn't quite make it - but with that surge of new pendings we...
At first, this article below mentions that there has been 50% fewer repeat home buyers: http://www.builderonline.com/newsletter/repeat-home-buying-has-fallen-drastically_c Tight credit is making it hard for homeowners to trade up and out of their starter homes,...
You say the market is soft, and it's just a price thing. How do you know? Check the sales count. Last year was hot, and yet this year we've matched the 2015 August sales. It doesn't look like we have any structural issues here, it's just a price thing. NSDCC August...
What now? Summer is over, and the so-called spring selling season is six months away. Is it worth waiting? Sellers want to believe that springtime is when all the young families with 2.2 kids will be looking to pay retail-plus. But that belief ignores the trend -...
Two-thirds of 2016 is complete - how did we do? Our local NSDCC market is comprised of 59,119 single-family residences between La Jolla and Carlsbad (according to our MLS tax rolls). Last year we only sold 3,024 of them, and the way 2016 is going, we will sell fewer...
Our N.A.R. head cheerleader does his best at fabricating a believable story behind the 3.2% drop in existing-home sales: Lawrence Yun, N.A.R. chief economist, says existing sales fell off track in July, after steadily climbing the last four months. "Severely...
