Housing market

Analysis of the (primarily) San Diego housing market.

July 2010 Resale Housing Data Rodeo

Submitted by Rich Toscano on August 12, 2010 - 12:28pm
In the first month after the [insert preferred double homebuyer tax credit catchphrase here], prices as measured by the median price per square foot were pretty much flat:


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Post Double-Dip Price Flatness

Submitted by Rich Toscano on August 6, 2010 - 11:27am
The Rodeo approacheth... in the meantime, for those wondering what happened to prices in the first non-double-dip month, the answer is that they were pretty flat overall:



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June 2010 Resale Housing Data Rodeo

Submitted by Rich Toscano on July 18, 2010 - 6:07pm
I'd say the best part of July is not the lifting of the June Gloom, but the fact that I won't have to talk about the "double dip" any more.  Well, maybe a few more times.  Like now, for instance.  You will recall that June was the last month in which first-time buyers could get both the $8,000 federal tax credit and the $10,000 state tax credit.  The Feds later extended the June closing deadline to accomodate short sales, but they didn't announce that until more recently.  Because people buying before the April deadline thought they had to close by June, the tax credit's effect should have been used up in June for the great majority of cases.

Prices

It actually appears that the effect of the double dip may have been used up even before that.  The median price per square foot actually fell in June despite the expiring stimulus.  It dropped by a giant 10.6% for condos, more than erasing last month's almost-as-wacky gain.  But even the far less volatile single family median price per square foot fell by 1.4 percent.


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May 2010 Resale Data Rodeo

Submitted by Rich Toscano on June 9, 2010 - 4:06pm
Before we begin the Rodeo, you might be interested in a piece I just put up at voiceofsandiego.org on National Froth Day, when we commemorate Greenspan's first utterance of that legendary euphemism.

Assuming you have now read the afore-linked piece, celebrated Froth Day, and eventually sobered up, let's move on the to last month's housing data.
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April 2010 Resale Data Rodeo

Submitted by Rich Toscano on May 7, 2010 - 7:01pm
After March's surge to the upside, the median price per square foot pulled back in April:



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March 2010 Resale Housing Data Rodeo

Submitted by Rich Toscano on April 19, 2010 - 9:26am
As discussed last week, the median price per square foot of San Diego resale homes rallied hard in March. 



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February 2010 Resale Data Rodeo

Submitted by Rich Toscano on March 6, 2010 - 6:15pm
The median price per square foot was up about 1% in February, but that's a smaller amount that its January decline.  So I would characterize prices by this measure as continuing to go nowhere, as they have done since September.


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January 2010 Resale Housing Data Rodeo

Submitted by Rich Toscano on February 21, 2010 - 9:13pm

The median price per square foot declined between December and January for both detached homes and condos:

Prices by this measure have really gone nowhere since September 2009.  As I noted at the Voice last week, the rally that began in early 2009 has clearly come to an end. 

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Shambing Away from Cheapness But Still Milling About In The General Locale of Affordability

Submitted by Rich Toscano on January 17, 2010 - 10:05pm

Well, I thought the old "Shambling Toward Affordability" title for this series of articles was a bit pithier but it just doesn't quite work now that home prices have been rising for the better part of a year.  In any case, regardless of the what we want to call it, it's time to check in on San Diego housing valuations as of year-end 2009.

The 2009 home price rally reversed the direction of the shamble, but it didn't really change the overall picture, which is that San Diego home prices (in aggregate, of course) are still at middling levels of valuation.

Here's the price to per capita income ratio:

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December 2009 Resale Data Rodeo

Submitted by Rich Toscano on January 10, 2010 - 5:45pm

The San Diego housing market managed to squeek out another gain in the median price per square foot as 2009 drew to a close:

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Ramsey Su's Real Estate Outlook for 2010

Submitted by Rich Toscano on December 24, 2009 - 4:04pm
It wouldn't be a proper Christmas without a little holiday cheer from legendary housing bubble analyst Ramsey Su.  So pour yourself a couple buckets of egg nog and read on...

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November 2009 Resale Data Rodeo

Submitted by Rich Toscano on December 15, 2009 - 5:49pm

November saw the 7-month rally in San Diego home prices, as measured by the median price per square foot, come to an end:

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October 2009 Resale Data Rodeo

Submitted by Rich Toscano on November 9, 2009 - 3:54pm

It looks like the spring/summer rally has continued into autumn, as the median price per square foot was up 1.5% from the prior month:

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September 2009 Resale Data Rodeo

Submitted by Rich Toscano on October 11, 2009 - 12:41pm

Some have asked what distinguishes a Data Rodeo from a Chartfest or for that matter the rarely seen Chart Extravaganza. The answer, which I will fabricate as I type this sentence, is that Data Rodeos are reserved for the monthly roundup of resale data, whereas the two alternate names are used for generic chart collections based upon the levels of extravagance and general chartiness contained therein.

I hope that clears everything up.

Prices

The rally in San Diego's median price per square foot continued through September, with the ppsf rising 2.2% for detached homes, 5.5% for (much more volatile) condos, and 3.1% for a volume-weighted aggregate.

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August 2009 Resale Data Rodeo

Submitted by Rich Toscano on September 13, 2009 - 3:33pm

As discussed in the prior article, the median price per square foot was up again last month, though not as strongly as earlier in the year:

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