If Zillow made their predictions based on traffic to their website, it would be impressive. I’m not sure how they figure these though.
Generally, they are expecting +3% to 4% in home values around here over the next 12 months:
While it would appear that there was a big jump in new listings last month, the January count wasn’t unusual – it’s just inching its way back to a more-normal pace:
January New Listings – Totals of Three Areas Above
2019: 234
2020: 186
2021: 157
2022: 113
2023: 101
2024: 106
The pricing leveled off when rates jumped in 2Q22, with more volatility lately:
Some buyers are getting discounts too:
Get Good Help!
1371 Corte Paguera
5 br/3 ba, 2,854sf
YB: 1990
SP: $1,027,000
This 5-bed, 3-bath haven sprawls across 2,854 sqft. This home features NEW TILE ROOFING, new carpeting with upgraded padding, and PEX plumbing. This cul-de-sac gem comes with a 3 CAR GARAGE, NO HOA & NO MELLO ROOS. The appeal continues with french doors welcoming you into the meticulously-crafted interiors. Step into the foyer, greeted by high ceilings and an abundance of natural light, creating an inviting atmosphere throughout. The heart of this home lies in its dual living spaces – a spacious family room and a cozy living room, complemented by a formal dining room and a delightful breakfast nook with a charming breakfast bar. Picture evenings spent in the grand master suite, complete with a jacuzzi/soaker tub and a fireplace, offering the perfect space for down time. Indulge in outdoor bliss through double sliders leading to your private oasis – an entertainer’s dream featuring a built-in fire pit, tile pool, jacuzzi, and an outdoor jungle gym. Outside…mature landscaping with beautiful palms, complemented by a drip system.
Homes.com says they are going to be a primary real estate search portal, and well, it’s go time! One of the 30-second Super Bowl ads cost $7 million – a great place to spend big money if you’re trying to make a splash. This are just teasers for their Super Bowl ads:
The last video appears to have CoStar’s CEO Andy Florance in a cameo board room scene (:15). Both of them teasing the “2.11.24” Super Bowl date. He likes to go big with their promotion, and nothing is bigger than a Super Bowl ad. Should be fun to watch!
We will be seeing ads for Homes.com everywhere this year:
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Zillow keeps feasting on lazy realtors!
Any agent could walk around their next listing with their phone’s camera running and comment on what people are seeing and why they should buy the house! The extra audio will be far more effective than any whiz-bang product that comes to market at any price.
Why don’t agents do that?
January Detached-Home Sales & Pricing, La Jolla to Carlsbad
It was in June, 2022 that Fed Chair Jerome Powell told reporters that spiked mortgage rates would “reset” the “overheated” pandemic housing market.
Last month had the highest pricing metrics AND the highest January mortgage rate in recent history!
Tim Wrisley took over for his mom as the purveyor of Carlsbad, and he has carried the burden quite nicely with his Carlsbad Magazine. No matter who you know, he probably knows them AND somebody else from the old days at Carlsbad High School.
In fact, it would have been natural for him to declare that the heart of Carlsbad is the high school – because back in the old days, it was the center for most people. But I like the nod he gives to South Carlsbad, the late-comer to the party by 10-20 years, and the conclusion here. One of Tim’s people wrote this:
https://www.clickoncarlsbad.com/
It’s inevitable that artificial intelligence will be utilized in the business of selling homes. Having AI assist with writing home descriptions or other advertising would seem to be a natural fit.
How about speaking with clients on the phone though? Listen to the brief conversation above.
Here are some of the results:
The number of January listings has blown by everyone’s expectations, and is now up to 229, which is 12% higher than in January, 2023 – and the count isn’t done yet.
All we know for sure is that more sellers wanted to get an early start on moving this year.
If that tendency holds up over the next few months and the YoY inventory grows by 10% or more each month, the market could get more frenzied, because the buyers are responding too. The number of pendings is 14% higher than they were last year at this time!
My theory is that 10% more inventory is easily absorbed and really won’t be that noticeable. It’s when the inventory is growing at 20% or more that buyers may wonder what’s going on – and be tempted to pause, and/or get more picky, if that is possible.
Congratulations to Joe – the winner of the four Padres tickets!
Contest to Guess the Total Number of NSDCC January Listings
142 Anne M
157 Skip
160 doughboy
170 Dale
174 SurfRider
176 LifeIsRadInCbad
180 Kingside
188 Stephanie R.
189 Chris
190 Tom
192 Sara G.
196 Derek
200 Curtis
208 Rob Dawg
210 Bode
213 Shadash
217 Nick
222 Majeed
223 Joe
The way it’s going, the 2024 Selling Season should be as hot, or hotter than it was last year!
I like the first three! Link to HGTV:
https://www.hgtv.com/lifestyle/real-estate/top-home-updates-that-pay-off-pictures
