September 2022 housing data: inventory ticks up a bit, prices drop a bit

Submitted by Rich Toscano on October 17, 2022 - 7:58pm

I don't have much to add to the title, so I will leave it at that.

Oh actually one thing I want to note: the 30-year mortgage (per FRED) averaged 6.1% in September, so that's what's reflected in the monthly payment related charts. As of last week, the mortgage rate was up to 6.9%. So that's going to put further upward pressure on monthly payments, unless rates drop pretty hard at this point.

OK, carry on. Charts below.































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Submitted by an on November 23, 2022 - 11:11am.

sdrealtor wrote:
Btw the bigger point here is one of my mantras. As a buyer you want to get in when most of the damage is done and catching the exact bottom isn’t that important. That’s because the upside is so big in a recovery around here. The other part is you want to buy on the way down not the way up. As an entry level buyer you want to buy when others don’t want to in order to be able to compete for the good ones. Once the ship turns upward youre road kill against the big money

Not to mention, you're buying a specific house in a specific area (especially if you want a view lot), so the bottom for the city matters less to you. Especially if you are buying in an older area. Some floorplans seldom come on the market and when it comes one, it might not be at the bottom or when it is the bottom, there's nothing you want to buy. It all depends on how picky you are and what you're looking for.

I have been eyeing a handle of houses in my specific area for the last 2 decades and none of them have come on the market :-(.

Submitted by sdrealtor on November 23, 2022 - 11:14am.

First 4 reporting weeks of my NCC monitor for NOV

2020 - 82 new sfr listings
2021 - 47 new sfr listings
2022 - 38 new sfr listings

If that isnt digging in what is?

Submitted by an on November 23, 2022 - 12:00pm.

sdrealtor wrote:
First 4 reporting weeks of my NCC monitor for NOV

2020 - 82 new sfr listings
2021 - 47 new sfr listings
2022 - 38 new sfr listings

If that isnt digging in what is?


Using your reporting for MM

2021 - 29 new SFR listings
2022 - 15 new SFR listings

Kinda crazy, considering MM has over 74k people and 23k households

Submitted by drboom on November 23, 2022 - 6:27pm.

Why do I feel like I'm arguing with Lawrence Yun? :-P

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