The Super Bowl is complete, and the spring selling season begins today! Judging by the quick jump in the total number of pendings, homebuyers aren't waiting around. Mortgage rates have risen faster than any time in the last dozen years, and the number of homes for...
The new listings of 2022 are only trickling out, but we know that there can be spurts. We're seeing one underway in Encinitas Ranch, where five listings are hitting the market this week! The three Coming-Soons will all change to active listings on Saturday. Buyers -...
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...
I already guessed that the runaway frenzy will start to temper in June. Here are reasons: Some of the craziest demand has been satisfied. Other buyers will take a break and go on vacation. Overly-optimistic pricing by some sellers. It's been red-hot for 10-12 months....
Let's call it the Big Confluence: Covid concerns keep diminishing over the next few months. More sellers feel safe to put their home on the market. More sellers find a way to hurry up and get their home on the market. Buyer skepticism rises. Agents get too cocky....
I love hearing from new readers! Hi Jim, I have recently stumbled upon your blog and find it very interesting as I am an appraiser in San Diego. I wonder if anyone has considered that the low inventory levels are in part because home prices are going up so fast why...
The NYT has another article lamenting the drop in the number of homes for sale, and offered some reasons, like covid reluctance, sellers skittish about finding their next home, forbearance relief, the lack of building new homes, and people keeping their old home as an...
This morning we have more homes in escrow than we have for sale! NSDCC Detached-Home Listings Listing Status # of Listings Median List Price Active 352 $3,950,000 Pending 353 $1,925,000 Once upon a time I was discussing the actives/pendings relationship with local...
Are we getting any more inventory? Are more homes coming to market? There have been a few more good listings, which gives hope. The Super Bowl being on February 7th was later than usual, but the overall numbers are still very light: NSDCC New Listings Between Feb 1 -...
Nobody is giving them away! I think we can agree that list prices today are at or above the all-time highs, yet with demand overwhelming the few listings that are trickling out, buyers are forced to consider going even higher. It's working too: We usually get some...
