NSDCC Pendings Overtake Actives
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...
View ArticleLow Inventory, More Sales
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...
View ArticleMarket Topics
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...
View ArticleWhen Will the Frenzy End?
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...
View ArticleLow-Inventory Conditions to Persist
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....
View ArticleFrenzy Monitor
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...
View ArticleER Inventory Surge
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...
View ArticleThe Selling Season Is Here!
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...
View ArticleHotter Than Ever!
We can use the SP:LP ratio to gauge how hot the market is. Last year, the ratio was flat heading into the selling season, with February being right at 100.1%. Last month was already up to 103.6%, which...
View ArticleSpring Clean
Hat tip Leonard @Compass: Today is the last day of Winter 2022, and as Spring arrives, consider the following: 1. Clean up winter debris, old leaves, fallen branches, etc. 2. Check your roof. Winter...
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