There have already been 101 detached-home sales close this month between La Jolla and Carlsbad!

With five business days left in the month, plus the late-reporters, it means we should match last October’s count of 133, and maybe even approach last month’s 153 sales.

Of this month’s 101 sales, 45 were all-cash.

The 8% mortgages won’t kill the market – especially for the superior homes for sale, which are hot. They may be the only ones selling, unless sellers of the inferior homes will accept an appropriate discount – a gap which is probably 10% to 20%.