San Diego Housing Market News and Analysis
April housing data: some slowing but still low inventory/higher prices; real monthly payments surpass bubble peak
Submitted by Rich Toscano on May 11, 2022 - 8:51pm
I don't have too much to add to what I wrote last month, so I'll mostly stick to charts for now and refer people to last months' writeup for the color commentary.
Just a couple quick notes on April:
1. There was was a notable drop in pending sales:
2. This pushed months of inventory above last year's level (but still extremely low in the grand scheme of things):
3. Inflation-adjusted monthly payments are now comfortably above the bubble peak:
Given the lags in real estate transactions (rate locks, escrow periods, etc.), it might take some time for the full impact of the higher rates to be realized. The next couple months should be more informative on that front.
In the meantime - more graphs below and some thoughts/ranting on these valuations in the prior entry.
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