is the market surprisingly weak right now?

[cantab]

I was just talking to an experienced, smart agent who specializes in the La Jolla area. According to him/her, the number of buyers getting preapproved for purchases currently is only half of what a normal number would be. S/he says that everyone knows that inventory is low, but what not everyone knows is that the level of buyer interest is low also.

S/he also says that there was a buying frenzy that peaked last May, and that the level of interest from Chinese buyers now is much lower than in 2012 or 2013.

Do you agree or disagree with the statements above? Are there sources of evidence to support or contradict them?

[ljinvestor]

Personally I wouldn’t care about buyer interest, just how many transactions there are. How many SFR homes are available in La Jolla right now under $1.5MM that are at least 1500sf, don’t have HOA fees, and not short sales?

Just 8 and 4 of those are on less desirable roads. Activity in La Jolla is pretty hot up to $2MM right now and sizzling up to $1.5MM

[CDMA ENG]

I would like to buy a house.

Problem is I haven’t seen anything that is moving me. Therefore I have not pre-qualified.

I am actually going to do it just on the off-chance that something appears on the market that I like.

You know… the whole “Causality and correlation” thing.

CE

[ctr70]

I have read a lot of articles of how first time buyer activity is extremely below normal. Not sure about the repeat buyers.

[Author]

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