It's one thing to note that showings are well under the peak frenzy era of August-November. But today's showings are also well below what they were in July 2019, which was a fairly flat market then. Is the demand falling apart? Or is it due to lower inventory? Let's...
“We’re starting to see what a difference just a slight uptick in inventory and listings can do to help lessen the buying frenzy and create a sense of normalcy,” said C.A.R. President Dave Walsh (California). ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
When comparing to the last reading there hasn't been much change, but the May 12th numbers were quite different - the number of actives today is now 15% higher, and pendings are 16% lower. But it had to go in that direction. The March-May period has to be the hottest...
Fewer showings than in the first week of January? Well, the market was cooking right up to Christmas and then fired up quickly again this year, which created a solid 12-month frenzy. But now there are fewer showings than in 2019 too? How did that turn out? You can say...
Random thoughts: Having 130 NSDCC homes in June sell for $100,000+ over list price should be an all-time record. If we had half that many, it would be astonishing! But those were decisions made in April and May. It feels like the market is in the deceleration stage,...
The Covid Frenzy has had remarkable shift in market efficiency like we have never seen. Historically, we have had so many listings that 35% to 40% of them didn't sell. This year we had 977 listings hit the market in 1Q21, and 80% of them have already closed escrow! ...
There is a collective mindset. For the last year, real estate has been hot around the world. When California gets cooking, so do all the neighboring states. And when America gets cooking, other markets around the world benefit too. There are varying degrees of hot,...
Double-digit increases can't last forever - but could home prices plateau for years? It will probably depend on mortgage rates, and having enough reasonable sellers who are willing to take the same $ as what the last guy got. From our friends at JBREC: Price...
This collection of opinions has more reach - and more influence - than those of any part-time blogger. Thankfully, these experts are split on whether the alleged slowdown is temporary, so readers will just be on their merry way in hopes that it will all work out....
We saw yesterday that we had 5% fewer January listings year-over-year, giving the impression that sellers aren't rushing their homes to market. But we came into 2019 with more leftover listings from last year - and they are already starting to pile up: NSDCC...
