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...
I think we can say that February has been at least as hot as January! It may be irrational exuberance, but it's going to continue until there is significant boost in supply. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
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 -...
When you look at the general data, the 25% dip year-over-year of January listings doesn't look so bad - especially on a graph. Heck, we're in the middle of a pandemic! But look how it is playing out: NSDCC Detached-Home New Listings Price Range New Listings in...
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...
We are only able to sell what's for sale, so the direction of the frenzy depends on inventory. If we get a surge of inventory, then sales will increase. If we don't get a surge of inventory, then bidding wars and prices go crazy. We saw the differences here where the...
The term 'chasing the market' usually applies to sellers in a down market when they don't lower their price fast enough to get ahead of the new listings coming on that are under-cutting them. The reverse is also true about home buyers in a hot market. Those in the...
Either we are undervalued, or we're getting more popular....and maybe both! The price of a San Diego home could increase by more than 8 percent this year, more than anywhere else in the nation, according to a forecast released Tuesday. Real estate analysts CoreLogic...
Yesterday, Rob Dawg got started on his prediction on next year's market: Is this the official JtR 2021 prediction thread? If so I will post again but for now... The huge demographic groundswell of house-ready millennials will drive prices much higher. The municipal...
