Tag Archives: real estate inventory

Homebuyers Move Quickly for Inventory

Falling inventory forces homebuyers to move at fastest pace ever

Source: Housing Wire

housing market forecastHousing inventory fell 8.9 percent from last year in the second quarter of 2017, sending homebuyers scurrying to beat the rising competition.

Housing inventory dropped for nine consecutive quarters, and is currently down a full 20 percent from inventory levels five years ago, a new report from Trulia shows.

And now, homebuyers are snatching up homes at the fastest pace since Trulia began tracking in 2012. While 57 percent of homes were still on the market after two months in 2012, today that number shrank down to 47 percent.

Competition is so fierce, in fact, that 33 percent of Americans who bought a home in the last year made an offer without even seeing the home in person, according to a survey from Redfin, an online real estate brokerage.

This is up from 19 percent of buyers who placed an offer on a home without seeing it first last year. Among millennials, even more placed offers without seeing the home in person — a full 41 percent.

Read the full story

May 2017 – Market at a Glance

May 2017 real estate statistics

Thanks to the CALIFORNIA ASSOCIATION OF REALTORS, you can view a succinct pdf on the market statistics for last month.

In short, it only takes a listing an average of 22.4 days on the market before it’s in escrow, at the median price of $550,200. View more information below:

Click to view the pdf from CAR.org

San Diego housing market in 2013

“Historically low interest rates and limited inventory in 2013 fueled some of the greatest housing appreciation in San Diego County since the early 2000s…

home buying

“San Diegans bought 42,702 homes last year, a slight uptick from 2012 but the most since 2006, the last full year before the Great Recession.

“Last year was a great year for investors, who in June enjoyed 24.1 percent annual appreciation — a post-Great Recession record — to a median price of $420,000…”

Read the rest of Union-Tribune San Diego’s article on 2013’s real estate market in review here.

A 6-Month Outlook of the Real Estate Market with Value-Demographic Changes in Santee, CA

In my never ending quest to predict the real estate market like most news people, economists, and real estate agent bloggers, it is obvious that there really are no long-term accurate predictions.  A short term prediction up to 6 months is palatable, given there are no environmental disaster, economic meltdowns among financial strapped countries,  terrorist attacks, or oil refinery breakdowns that have a direct impact on Worldwide Economic Markets, who also influence in the end, interest rates in the real estate sector of the United States.  Faith that ALL is well does continue to prosper, while the doom and gloom attitudes or I might say the glass isn’t even half full attitude will always have an opinion, but somehow never does prevail in the big picture. housing market trend

With inventory lower now than ever before, the current trend in San Diego, CA real estate in particular is a continued strong upward swing in home values for the next 6 months.  Last Tuesday, June 11, 2013, DQNews and the San Diego Union Tribune Zip Code Chart lists the changes in values. In the East County, this example shows Santee, the old cowboy bustling town of years past showing a new image and strong values with desirability coming in 4th place to Alpine, Jamul, and La Mesa, beating out the rest of the East County Towns.  Santee’s resurgence of the past 5-10 years of rebuilding: restaurants, shopping, recreation and new construction is the reason why it has leap frogged its neighbors Lakeside, El Cajon, Lemon Grove and not too distant Rancho San Diego (at one time the most desirable East County area) & Spring Valley in overall Medium Price average of all home sales combined Condominium and Single Family Homes.

 In an article from the same source in DQ News: Southland May Home Sales Highest in 7 Years; Median Price Hits 5-Year High, available here: www.dqnews.com

30% of all sales are cash! That’s huge, no loan!  Also the inventory is about 4800 units in San Diego County and that’s an uptick of 7% from last month, but 22% less than a year ago. So inventory continues to be extremely tight.  Now is the time for you sellers to explore your 5-10 year life goals of where you want to be or where you will actually be in that time NOW!  The market could change after the next 6 months wishing you had.

 I am always available for any one-on-one questions, feel free to call.  Thanks for reading and cheers to you all for a fabulous kickoff to summer 2013!!