Buyers didn’t slow down at all.
The pace of weekly new listings is down 200 from 2 weeks ago. That’s not a small dip…
Buyers didn’t slow down at all.
Inventory fell as a result.
In the grand scheme of things, this is not market-shattering news. It’s just so uncharacteristic for this time of year so I have to think it has something to do with the NAR news.
If that is the case, we’ll likely see a rise in new listings after July 1.
At the same time, we could see a drop in buyer demand due to the new complexities of broker compensation on the buyer side.
Whether any of that’s enough to make a difference in values is another question.
How’s Brian feeling this week about the San Diego market?
Optimistic, but still playing it cautious.. 🙂 (no changes from last week, for now)
- 3-month outlook (May 2024) – inventory will increase. We’ll see another 2-3% appreciation over February.
- 6-month outlook (August 2024) – inventory will be higher than in May, and values will peak in May as usual, then flatten out and fall from there.
- 12-month outlook (February 2024) – sticking to the 5-7% range of annual appreciation for now.
Disclaimer! This is not investment advice. I might be wrong. You make your own decisions.
Other Relevant Local News
- Economists tackle the question: Will people continue to leave San Diego?
- HUD announced assistance for January flood survivors.
