San Diego Housing Market News and Analysis
November 2016 Housing Data
Submitted by Rich Toscano on December 11, 2016 - 5:54pm
Months of inventory crept up a bit, but still made for the lowest November in recent years:
The 3-month average of prices crept up as well:
Although on a monthly basis single family prices declined, but that was after a strong month in October:
Here are the two data points on my favorite (non-valuation) chart, which shows months of inventory inverted in blue, and monthly price change in red. The inventory will likely increase next month as it always does (see first chart), but that seasonal head-fake aside, we are still at supply/demand levels that have typically been associated with increasing prices.
Thus far there doesn't seem to be too much damage from the spike in rates (which while very sharp, hasn't been that big -- basically taking rates back near where they were at this time last year). This chart of pending sales doesn't show any significant decline in demand beyond the usual November drop.
Perhaps the rate increase will feed a bit more into December. Otherwise, it appears to be more or less business as usual...
Here's a table summarizing some of November's stats :
And further assorted graphs below...
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