There was a lot of hubbub yesterday about NAR's annoucement about their goofy 'seasonally adjusted annual rate' of national sales dropping 1.2% from May to June. Lawrence Yun didn't mention here that there were 9% fewer business days in June than in May, which would...
We have seen how the lack of inventory seems to drive the frenzy. When buyers see fewer choices, they tend to start gobbling. You can see below how the recent frenzy got started - there was a low level of new listings in early summer, at relatively low pricing: June...
Rich T. has predicted the next couple of San Diego Case-Shiller moves, based on the actual median price per square foot over the last two months: See his other 13 graphs, explanations, and reader comments here:...
Yesterday we saw that NSDCC detached homes sold in June averaged $453/sf, up 23% year-over-year - and getting close to peak pricing. Here is a comparison from this year to last year, and to 2006, using the larger May 1-to-June 30 period to increase the sample sizes:...
The number of NSDCC detached sales in June hasn't quite caught up to last year's total yet, though this June had one less business day: June #Sales Avg. $/sf Avg. DOM 2010 256 $385/sf 65 2011 251 $373/sf 77 2012 339 $368/sf 72 2013 325 $453/sf 42 Last month's average...
It's incredible to see how far we have come. While there are still plenty of buyers waiting for more inventory/lower prices/lower rates, this month's sales and pricing combination will rival those at the previous peak. Let's estimate this month's sales and pricing....
We've seen how buyers have reacted to the amount of inventory. When there are plenty of choices, buyers are very deliberate in their hunt. But when the inventory dries up, especially when (or because) prices AND rates go ultra-low, buyers lose their patience and...
More data released today indicating higher pricing for April and May. The news has been upbeat all year, and sellers have been adapting well. According to the Dept of Numbers, San Diego's 75th percentile asking price has risen 24% in the last 12 months: The...
There was a +10% Y-O-Y pop in May's sales and average cost-per-sf: NSDCC Detached-Home Sales, May: Year #Sales Avg. $/sf Avg. DOM 2010 249 $388/sf 65 2011 243 $383/sf 69 2012 288 $380/sf 70 2013 319 $419/sf 40 If the pricing starts to level off, the Y-O-Y differences...
Zillow is reporting that San Diego prices are up 19.7% year-over-year, a trend that should continue for another couple of months. You can see here that prices started to increase last summer, which should put a statistical damper on the Y-O-Y percentage growth later...
