I guessed that we might have +10% in both sales and pricing this year, but so far that is way too conservative. It's not just the pricing that's on the run - the sales are cooking too: NSDCC Closed Sales Jan 1 – Feb 15 Year # of Sales Median Sales Price 2020 254...
It was in June, 2011 that Ben Bernanke said at a live press conference: We have told the banks to handle their REOs…..long pause………..in an economy-supportive way. Oops. What he was GOING to say was “we have told the banks not to flood the market with REOs.” Since...
Bill has his annual forecast on home prices here: https://www.calculatedriskblog.com/2020/12/question-8-for-2021-what-will-happen.html Here is a snapshot of the forecasts: (I was reading the previous chart wrong when I said that all were forecasting 7% to 10%...
Because our market at the end of 2019 was so flat (December's index was lower than July's), the year-over-year gains are going to make for sexy double-digit headlines for the next couple of readings. San Diego Non-Seasonally-Adjusted CSI changes: Observation Month SD...
The 15% increase from the last peak 15 years ago doesn't seem bad, though both were bubblelicious thanks to stimulus (exotic financing then and ultra-low rates today). https://wolfstreet.com/2020/11/24/the-most-splendid-housing-bubbles-in-america-november-update/ The...
What a difference compared to the second half of 2019: San Diego Non-Seasonally-Adjusted CSI changes: Observation Month SD CSI M-o-M chg Y-o-Y chg January ’19 251.30 -0.2% +1.3% Feb 253.69 +0.9% +1.1% Mar 256.40 +1.1% +1.2% Apr 257.63 +0.5% +0.8% May 260.08 +1.0%...
What a difference compared to the second half of 2019: San Diego Non-Seasonally-Adjusted CSI changes: Observation Month SD CSI M-o-M chg Y-o-Y chg January ’19 251.30 -0.2% +1.3% Feb 253.69 +0.9% +1.1% Mar 256.40 +1.1% +1.2% Apr 257.63 +0.5% +0.8% May 260.08 +1.0%...
The July reading includes some data from May and June, so we're getting through the negative covid impact, and swinging into the positive! The next 2-3 readings should be at least this high: San Diego Non-Seasonally-Adjusted CSI changes: Observation Month SD CSI M-o-M...
I've been pedaling so fast these days, I forgot all about the Case-Shiller Index on Tuesday: San Diego Non-Seasonally-Adjusted CSI changes: Observation Month SD CSI M-o-M chg Y-o-Y chg January ’19 251.30 -0.2% +1.3% Feb 253.69 +0.9% +1.1% Mar 256.40 +1.1% +1.2% Apr...
The index in May and June might 'decelerate', but the usual seasonal surge in our Case-Shiller Index should be delayed this year. The index is hitting all-time highs while we are in a recession, officially! San Diego Non-Seasonally-Adjusted CSI changes: Observation...
