On Topic: Real Estate Spring Thaw

[poorgradstudent]

So what’s going on with the housing market?

Anecdotally, I see more for sale signs in my neighborhood area than I have since Christmas. This is normal, typical seasonal variation. I am curious if high house prices will bring out a few more potential sellers and if those sellers will manage to find buyers.

I noticed in the nice little SD Home Price Snapshot Rich has on the main page that there’s a hockeystick in the past month or two on list price for $/sq ft, but the sold price hasn’t kept up.

Basically, I’m looking forward to Rich’s February data! 🙂

[paramount]

I’ve been really surprised how many houses have gone up for sale in my hood in the last 2 weeks or so.

[an]

Inventory is still extremely low in my hood. It would have to tripple to just be back to last fall supply.

[moneymaker]

I see for sale signs everywhere and yet “inventory is low” makes me go “huh”.

[The-Shoveler]

Not enough new homes being built.

We built almost nothing the last 10 years, and currently we are only building 2/3’s the amount needed to match population growth and replacement etc…

In short No flood.

[no_such_reality]

[quote=moneymaker]I see for sale signs everywhere and yet “inventory is low” makes me go “huh”.[/quote]

OC is the same way, on a walk last week I saw five houses newly with for sale signs up. Couldn’t find them on the MLS, found them on the individual realtor sites listed as already in escrow. Either the five were less than three days on market or they were pocket listings.

I suspect pocket listings since the realtor is long established in the neighborhood.

[svelte]

Still low inventory in the areas I watch. A few popped up this week, but not many.

They are asking 20%+ more than last spring sales prices. We’ll see what they actually sell for…

[Coronita]

I’m still watching the bay area for a sign of a general tech slow down….

$846 per square foot in Santa Clara…., not even in the better areas like Palo Alto or Cupertino or even Mountain View.

So, that would be a no.

[outtamojo]

Techies pushed out by prices in Santa Clara have to go to out towards Dublin and pay about $400/sq foot -it’s madness I tell you!

[joec]

[quote=flu]I’m still watching the bay area for a sign of a general tech slow down….

$846 per square foot in Santa Clara…., not even in the better areas like Palo Alto or Cupertino or even Mountain View.

So, that would be a no.[/quote]

god, that’s insane…4 times/sqft price than in my hood…

[an]

At that $/sq-ft, I’d rather live in Del Mar/La Jolla with an ocean view… But that’s just me.

[Escoguy]

Household formation is outpacing supply and is likely to continue to do so for the foreseeable future. With rates staying low, every dollar saved can be leveraged so prices probably won’t come under pressure with job/wage growth/low gas prices etc.

[bewildering]

“Households started to shrink significantly in the 1970s, and that trend continues. The average number of people per household has fallen from 3.1 in 1970 to 2.6 in 2012.”

I think these charts explain why real estate and renting is so expensive. More people overall, and less people per household.

http://www.ibtimes.com/living-alone-more-us-residents-forming-single-person-households-charts-1401580

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