April 2020 housing charts

Submitted by Rich Toscano on May 20, 2020 - 8:38pm



















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Submitted by sdrealtor on May 26, 2020 - 8:22pm.

Update time and saw some changes.

New listings basically flat. Still not seeing any mass fleeing for the exits. Pendings bumped up a good 25% higher then they had been the last 4 weeks. BUyers are coming back at all price ranges. Price reductions still at typical levels. Closed sales slipped a little which was not unexpected. Looking at those closings very few were at asking prices.

So what does it all mean?

The market is getting its mojo back. I thought closed sales numbers might be a bit higher but not a real surprise where they came in. May is gonna have lowest closed sales counts this year.

It looks like buyers used the pandemic to negotiate and nearly all did in last weeks closings. That should decrease a bit as the market normalizes but those willing to go step forward during the darkest days look to have been rewarded

We are heading into the seasonal slowdown with a head of steam and my hypothesis last week that the market will get extended is looking more likely but only time will tell.

Still seeing overly optimistic pricing higher for sellers out of the gate.

Thats all for now. See you next week.

Submitted by gzz on May 27, 2020 - 10:50am.

Mortgage *purchase* applications up 9% versus last year!

https://www.calculatedriskblog.com/2020/...

Typo? Too good to be true?

As bad as the job losses have been, 75% were in the below $50k range, and most of these are getting boosted unemployment higher than their old wage.

SD summer tourism may get a boost as the 25 million people who live in greater LA plus Arizona stick to driving vacations this summer.

Submitted by sdrealtor on May 27, 2020 - 6:00pm.

for now it’s looking like the worst case scenario will not come to pass and that any declines would be modest. I don’t know that it’ll be a record-breaking crazy summer crowd but I do believe it will be enough to keep us on track and get us back to normal next year.

Submitted by outtamojo on May 30, 2020 - 1:19am.

sdrealtor wrote:
for now it’s looking like the worst case scenario will not come to pass and that any declines would be modest. I don’t know that it’ll be a record-breaking crazy summer crowd but I do believe it will be enough to keep us on track and get us back to normal next year.

You know I am beginning to believe that adage about how it's always a good time to buy real estate : )

Submitted by sdrealtor on May 30, 2020 - 10:58am.

outtamojo wrote:
sdrealtor wrote:
for now it’s looking like the worst case scenario will not come to pass and that any declines would be modest. I don’t know that it’ll be a record-breaking crazy summer crowd but I do believe it will be enough to keep us on track and get us back to normal next year.

You know I am beginning to believe that adage about how it's always a good time to buy real estate : )

That would make one of us:)

What I have learned is when it seems to make the least sense to buy real estate it can often be the best time to do so

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