The local market got off to a hot start in 2024 (January was hot - something to remember in 2025), so it follows that the selling season could conclude sooner than hoped. Let's use the data to help decide it. The NSDCC inventory peak of the year has been in mid-July...
It's natural to wonder what is going to happen next. Today's hot employment report squashed any hope for lower rates this summer. Home sales are waning. The realtor cartel is a mess. Yet, more listings are hitting the market at all-time high prices without any regard...
Earlier this year, I speculated that the market could endure - and probably snap up - additional inventory, as compared to last year. The 2023 inventory was like the Mohave Desert! It seemed that 10% to 15% more would be easily digested, and maybe even +20% or +25%....
None of the pricing metrics are great but at least they demonstrate the trends over time. These graphs above are showing the latest data, including last month, and it's all fairly positive....for now. With the extra inventory, buyers aren't going to pay crazy money...
Here's a snapshot of how fast the local market has changed. It went from a relatively-modest suburban area where 3/4s of the houses sold for less than a million dollars in 2003......to a very affluent market! NSDCC Detached-Homes Annual Sales True, the inflation rate...
NSDCC Listings, Jan 1 - May 15 Can we use statistics to describe the market conditions today? This chart above helps a little. Even though the number of listings is drastically lower than it used to be, apparently the market has been adjusting - mostly by price! I...
How does our market keep trucking along with sky-high prices AND mortgage rates 2x higher than they were three years ago? How does pricing levitate when money is so much more expensive - shouldn't prices adjust downward? We know that the generational wealth transfer...
Here I talk about the current market conditions and how they relate to our new listing in NE Carlsbad. It's a real mis-match too, with estate sales supplying much of the inventory when a majority of buyers want turnkey only.
How will the rest of 2024 play out? Like last year, sales will probably fade away unless more sellers are so motivated that they adjust their price in time. The number of NSDCC active listings has stayed under 400 all year - until this week. Today there are 421 active...
The locked-in effect has been bandied about for the last couple of years as the reason why the inventory remains thin. But it's not stopping those who want to pay cash and avoid a mortgage altogether - every area is showing increases in the all-cash purchases. If you...
