Real estate

The softness in sales volume that started in the second half of 2022 continues into this year. Sales volume for the first quarter has declined a lot in both the county and on the coast. Home prices are flat for the county as a whole but down for the coast mainly due to many high-end sales last year that boosted prices significantly.

Also, average selling time has increased as well. Inventory remains tight with fewer homes sale-pending. I feel the causes are a combination of high home prices, the Fed raising interest rates nine times since the beginning of 2022 and the stock market being down from the end of 2021.

(3) comments

Steve Hyman

It’s not optimism. It’s an educated guess looking at homes sale pending and new listings as well as historical low unit volume in first quarter


I also think the average home price will increase from the low level of first quarter as more sales happen - Hahahaha. Good one. Gotta love the unshakable optimism of Realtors.

John Charles Ullom

This is great news. Since we won't allow any to be built, we need housing prices to decline by about 50%.

Check out what is coming: --

We won't allow nearly enough immigration and women just ain't making babies like they used to. The time is coming when there will be too many houses. When it does, every property speculator that leveraged all their holdings to the max, so they could buy more property to hold, is going to find out what it is like to be screwed.

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