The local index is 11% lower than its peak in May. The beauty about this market is that buyers don't have to fight with the decision to buy now or wait. Because the inventory of quality homes is so thin, having to wait is baked in. How often do buyers see a home for...
Today’s local Case-Shiller reading for November is the fifth in a row that reflects the much-higher mortgage rates. The index has dropped 9% since May - don't be surprised if in the future we see a similar trend of enthusiasm in springtime, and doldrums in the...
The local index peaked in May, so today's local Case-Shiller reading for October is the fourth in a row that reflects the much-higher mortgage rates: San Diego Non-Seasonally-Adjusted CSI changes Observation Month SD CSI M-o-M chg Y-o-Y chg Jan ’21 301.72 +1.4% +14.3%...
How the mainstream media is reporting today's Case-Shiller numbers: U.S. single-family home prices slowed further in September as higher mortgage rates eroded demand. Monthly house prices fell in July for the first time since late 2018. The housing market has been...
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...
