Now they are calling it 'forceful deceleration'.... San Diego Non-Seasonally-Adjusted CSI changes Observation Month SD CSI M-o-M chg Y-o-Y chg Jan ’20 264.04 +0.2% +5.1% Feb 265.34 +0.5% +4.6% Mar 269.63 +1.6% +5.2% Apr 272.48 +1.1% +5.8% May 273.51 +0.4% +5.2% Jun...
The local Case-Shiller index is due tomorrow, and expectations are for a 2% drop from June. First American has their own repeat-sales index which is already showing a 12% decline in San Diego pricing (above)....
Everyone is throwing around the 'deceleration' word like it means something. But the only number that matters is the month-over-month change, which went DOWN for the first time since October 2019 - but it only went down that one month. The local index dropped 2.8%...
Last month I guessed we’ll be 400+ at the end of the year, or about the same as February. If our local Case-Shiller Index drops 0.5% per month for the next seven readings, we'd still be in positive territory for 2022. We haven't had a negative MoM reading since...
My guess is we'll be 400+ at the end of the year, or about the same as February. A flat-pricing environment is the easiest of all the choices for buyers and sellers - just sell for the same amount as the last guy. San Diego Non-Seasonally-Adjusted CSI changes...
Mortgage rates didn't get into the fives until early April, and up until then, the frenzied-out buyers were grabbing something at any price. The June index will show the full effect, which we'll get at the end of August. San Diego Non-Seasonally-Adjusted CSI changes...
The February month-over-month increase was the highest ever, but it feels like ancient history: San Diego Non-Seasonally-Adjusted CSI changes Observation Month SD CSI M-o-M chg Y-o-Y chg Jan ’20 264.04 +0.2% +5.1% Feb 265.34 +0.5% +4.6% Mar 269.63 +1.6% +5.2% Apr...
The prognosticators said prices would soften in 2022, but instead they have 'reaccelerated'. Now the guessers are expecting the higher mortgage rates to slow down the runaway train - see below. San Diego Non-Seasonally-Adjusted CSI changes Observation Month SD CSI...
It’s early, and the final February sales count will probably wind up around 165-170, which is in line with years prior to 2021. However, the pricing is nuts - and related to the number of homes for sale! Year February Listings # of Sales Median List Price Median Sales...
San Diego had the fifth highest year-over-year gain in 2021, behind metros with much lower price points (Phoenix, Tampa, Miami, and Dallas). Our month-over-month gain in December was #1 nationwide (tied with Miami). San Diego Non-Seasonally-Adjusted CSI changes...
