Interest Rates Increase
For the second time this year the Federal Reserve Board has raised interest rates! it was March 15, 2017 that the Federal Reserve first raised interest rates this year. If you’d like to see that story on the first Federal Reserve rate increase, click this link: Fed raises interest rates
Although this was the second interest rate increase this year, it was also the third interest rate increase in the last six months! Read more
Home prices up at fastest rate in nearly three years!
In just one word, HOT, describes the US residential housing market right now!
Sure, there are many out there right now for forecasting the US housing bubble, or in the very least, a topping out for the momentum in the housing market. But, according to the latest S&P/Case-Shiller 20-city index report, it would seem that these negative forecasters are 180° off base! the latest S&P Case-Shiller 20 city index was up 5.7% when compared to the same time period last year. Read more
San Diego Housing Market Analysis
©2016 By Mark A. Melikian California Certified Residential Appraiser firstname.lastname@example.org P.O. Box 3051 Del Mar, California 92014 858-945-8996
The following is a market data summary of detached and attached properties as reported by the San Diego County MLS system. The data includes all zip codes in San Diego County. All projections discussed in this analysis will be updated throughout the year in subsequent quarterly reports.
San Diego Housing Market Overview: The data provided analyzes residential real estate sales beginning in the year 2000, which is used as the base year. The number of sold listings in San Diego County peaked in 2003 at 42,746 units and decreased through 2008 to 23,972 units. In 2016, the total number of units sold for the year was 36,236, up from 35,232 sales in 2015 (see Figure 1).
Market Overview: The monthly absorption rate (number of units sold in a given month) will mirror the trend we see in the number of sold listings. The peak monthly absorption rate occurred in 2003 with 3,562 units selling per month. In 2008, the monthly absorption rate decreased to a low of 1,998 units. The 2016 monthly absorption rate was 3,020 units, up from 2,936 units in 2015 (see Figure 2). Read more
San Diego housing market forecast 2015
The San Diego housing market is strong and still has only a two month homes for sale inventory.
The San Diego Association of Realtors recently reported that 2251 single-family homes sold in July. This amount was actually down approximately 11% from June, but still up 12% from a year ago.
Also, for June, it was reported that attached homes were down 8% in July from June but again the attached home sales were up approximately 14% in July when compared to July 2014. The median home price for July 2015 was reported to be $555,000, up from July 2014! Read more
Most Expensive Housing Markets in the Nation
Of the five most expensive housing markets in the country, four them are here in California. Yes, San Jose, California, where Silicon Valley is located, has the distinction of having the nation’s highest median home price of $980,000!
In second place, is San Francisco with the median home price of $841,600. The Anaheim Santa Ana area of California comes in third with the median home price of $685,700. The fourth highest median home price in the country is not in California, but in Honolulu, Hawaii. The median home price in Honolulu is $698,600. Read more
San Diego real estate market 2014
Yesterday, the San Diego Association of realtors reported that although the median San Diego home sales price has stabilized above $500,000, single-family home resales for July decrease by 13% compared to sales in June. During the same period, sales of previously owned condominiums and townhomes fell about 2%.
San Diego Housing Market
The S&P/Case-Shiller index for January was just released today.
Yes, for January 2014 the case Shiller index showed that San Diego’s residential real estate market improved by an amazing 19.4%! Read more
San Diego Real Estate
Dataquick, a real estate reporting company just issued a report that shows that San Diego housing market dipped slightly again in January as home sales hit their lowest levels in the past three years.
San Diego home prices also dipped in January with the median home price, falling $15,000 from December. But, even with that drop the January 2014 median San Diego home price was still up 15.7% from January 2012. Read more
San Diego Home Prices decline
Today, a report released by the San Diego Association of Realtors, showed a total of 1,609 single-family homes were sold last month, this figure was down 15.6 percent from November 2012, and 11.3 percent below October.
For attached homes sold in November were 761, down 19.4 percent from the same month last year, and 9.6 percent below October’s sales amount. Read more