Interest rates are a big topic. And, they are more important than ever for our real estate markets. Since I am on vacation this week, although real estate never sleeps, my mind has been more focused on general topics like interest rates rather than local market action. It has been almost a year since I have discussed interest rates on the blog, and it deserves far more coverage. This week, I plan to get a head start with some “vacation thoughts” on rates and follow-up with more information down the road. Past Blogs First and foremost, I think it is especially useful to look at some past blog posts I have written on interest rates. It
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Month: July 2020
Interest rates are at all-time lows. And, the economy seems to be doing okay. The South Bay second quarter housing numbers were amazingly resilient considering the challenging times of our economy and healthcare system. It is evident that during a pandemic, Buyers want a safe space more than ever. At the same time, Sellers also want to hold onto their properties more than in the past. All these factors lead to an extremely hot market. The set-up for the third quarter looks to be bullish too, but only time will tell. If you missed the second quarter numbers, be sure to check out my post from a couple of weeks ago titled: “Second Quarter Home Numbers
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This week, I wanted to have a little fun. After one of the ugliest beginnings to a quarter on record, the South Bay home market proved to be remarkably resilient throughout the “pandemic” second quarter. If you missed the blog with quarter two real estate numbers last week, you can find them here. I thought some readers might find it interesting (and fun) to see the highest sale and the lowest sale in our local marketplaces for some perspective during an unprecedented quarter. But first, let me share some data reported by the California Association of Realtors (C.A.R.) with statewide numbers for June. C.A.R. June Sales and Price Report Existing family home sales jumped an incredible
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More data means more context during these unprecedented times. Last week I covered the month of June numbers. Now, we can take the completion of the second quarter and use bigger chunks of data to compare. With perhaps some of the worst economic news since the Great Recession, if not the Great Depression, the 2020 second quarter occurred in an extremely challenging time for our country’s health and marketplaces. Armed with a three-month tranche of data during COVID-19, I am going to use data from quarter two of 2020 to compare against quarter two of 2019 to help give even further insight into the home market beyond monthly moves. This is year-over-year information represents “bad times”
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June South Bay real estate home numbers are in. With every new month, the data feels like it is even more critical as we all try to navigate volatile markets and unprecedented times in our country. Not only are we at the end of the month, but we are at the end of the second quarter. For the blog this week, I will just be covering the June numbers. Later this month, I will have a breakdown of the second quarter and a larger tranche of data as well. For reference, I have included past blog posts covering data for April and May. You can find the April numbers here and the May numbers here. The
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