Janet Yellen is still saying that tight credit is hampering home sales, but it doesn't appear to be stopping buyers throughout the state of California. Sales over the last three months were higher than in 2014, and prices are still rising too. If there were more...
These guys are making the pitch for why potential sellers should list their home (with Jim) and sell now, using NAR stats that show foot traffic is up, and inventory is down: http://www.keepingcurrentmatters.com/2015/06/29/two-graphs-that-scream-list-your-house-today/...
Here's a comparison of the last four Junes to those at the previous peak. Last time, the number of sales started declining, indicating trouble ahead. In 2015 it appears that pricing has tapered, but sales are still looking strong - late reporters could make last...
We have entered the second half of 2015 with a full head of steam - in the first half of 2015, NSDCC detached-home sales were up 5% YoY! Is there a natural cooling off in the second half? Not really. Second-half sales have been influenced by mortgage rates recently. ...
I heard an interesting comment the other day on broker caravan. The listing agent said, "Maybe we're all undervalued?", as he sat on his $6,000,000 listing with nobody else in attendance. If you judge it by the weather, he could have a point. If we have the best...
Have you seen how some of the list prices have gone ballistic lately? You can see above how the red 'Sold' price-per-sf trend line has been increasing moderately, but the 90-day average list pricing has taken off over the last few months (in blue). What is causing the...
There will be more sales reported over the next few days, which should push last month's total above those in May, 2014 - even though pricing is substantially higher! NSDCC May Sales and Pricing Year # of Sales Avg SF Avg $/sf Median SP Median DOM 2012 289 2,999sf...
We've used the ratio of active-listings-to-pending-listings as a measure of the overall 'health' of the market, with a 2:1 ratio being about right. This is how it looked earlier this year, on February 23, 2015:...
We saw yesterday that the number of sales in the first four months of 2015 was only exceeded by those in 2013 - which was the only other time mortgage rates were in the mid-3s. Let's compare the mortgage-rate history of those two years: In 2015, the spring kick got a...
Last week we saw the recent NSDCC sales history - how does it compare to previous years? Here are the sales stats from the first four months of each year, going back to the beginning of the 2-out-of-5-year capital-gains tax exclusion - which helped trigger the ensuing...
