This is an example of the hysteria being whipped up by the pseudo-experts. They tend to grab fake data, jump to conclusions, and then spread it everywhere. Here is the tweet with comments - he says the +31% is the change between March and April:...
Last year's frenzy was crazy because of the volume - there were enough listings to drive sales higher than usual. This year we don't have as many listings, and it is driving the pricing to astonishing heights: NSDCC Sales and Pricing, April Year NSDCC Detached-Home...
The drastic drop in inventory seems devastating, but check out the closed sales: NSDCC Number of Listings & Sales, First Quarter Year NSDCC Total 1Q Listings Median List Price 1Q Closings Median Sales Price 2018 1,230 $1,592,500 569 $1,323,000 2019 1,277...
Those highlighted in yellow are featured in my NSDCC counts (North San Diego County Coastal region).
What a wild ride lately! It's safe to say we'll never see a March like this again: NSDCC March Sales & Pricing Year March Closings Median List Price Median Sales Price Median Days-On-Market 2015 300 $1,195,000 $1,115,000 48 2016 252 $1,162,500 $1,143,665 50 2017...
The NSDCC detached-home stats in the Jan 1st-to-March 15th period are remarkable: Year New Listings # of Sales Median List Price Median Sales Price Median DOM 2016 1,194 436 $1,146,450 $1,102,792 58 2017 1,040 459 $1,239,500 $1,200,000 53 2018 1,102 420 $1,327,000...
This guy has been drunk on the doom juice for so long that he must never get out of his bunker! If he did, he would see the overwhelming demand for every new listing, even though underwriting standards are strict and rates are going up. Of the 140 NSDCC sales last...
Casual observers might think this graph is saying that home prices will drop, but instead it is just the YoY change that is moderating. The MoM changes will become more interesting than the YoY changes over the next 12 months. Home prices averaged year-over-year gains...
Has there ever been a precedent to our current housing frenzy? Yes - back in the 2000-2005 era, which a new blogging guy coined, 'The Golden Age of Real Estate' (bubbleinfo.com was three months old). Note the S&P Index: Date: December 25, 2005 The median price of...
Let’s do a final round-up of the 2021 numbers: NSDCC Annual Sales & Pricing Year # of Listings # of Sales Median Sales Price Median DOM # of $2M+ Sales 2013 4,911 3,287 $950,000 54 424 2014 4,794 2,899 $1,020,000 54 434 2015 5,066 3,096 $1,090,000 53 488 2016...
