The Lawhead Team would like to share the annual HomeDex Report for all of 2020 for North San Diego County from North San Diego County Association of Realtors:

The 2020 housing market was unexpectedly turbulent towards the end of the first quarter due to the pandemic that spread across the country. As the first wave of COVID-19 hit in the spring, housing market activity slowed substantially before staging a dramatic comeback just a couple months later.

Buyer activity was the leader again in 2020. With mortgage interest rates setting record lows multiple times throughout the year and a strong drive by many buyers to secure a better housing situation – in part due to the new realities brought on by COVID-19 – many segments of the market experienced a multiple-offer frenzy not seen in the last 15 years or more.

While markedly improved from their COVID-19 spring lows, seller activity continued to lag buyer demand, which had strengthened the ongoing seller’s market for most housing segments as inventories remain at record lows.

Sales: Pending sales increased 5.5 percent, finishing 2020 at 17,059. Closed sales were up 4.0 percent to end the year at 16,623. Nationally, pending sales were up in 2020 but a handful of markets did see buyer demand lower for the year due to a combination of factors.

Listings: Comparing 2020 to the prior year, the number of homes available for sale was lower by 64.0 percent. There were 1,150 active listings at the end of 2020. New listings decreased by11.1 percent to finish the year at 20,464.

Distressed: The foreclosure market continued to remain a small player in the overall market amid numerous forbearance efforts undertaken by the government and lenders. In 2020, the percentage of closed sales that were either foreclosure or short sale remained the same as last year, at 0.4 percent of the market. Foreclosure and short sale activity may tick higher in 2021 as forbearances expire with some homeowners unable to meet their obligations.

Prices: Home prices were up compared to last year. The overall median sales price increased 9.0 percent to $676,000 or the year. Single-Family Detached home prices were up 9.5 percent compared to last year, and Single-Family Attached home prices were up 8.0 percent.

List Price Received: Sellers received, on average, 98.6 percent of their original list price at sale, a year-over-year reduction of 1.6 percent.

The housing market in 2020 proved to be incredibly resilient, ending the year on a high note. Home sales and prices were higher than 2019 across most market segments and across most of the country. Seller activity recovered significantly from the COVID-19 spring decline, but overall activity was still insufficient to build up the supply of homes for sale.

As we look to 2021, signals suggest buyer demand will remain elevated and tight inventory will continue to invite multiple offers and higher prices across much of the housing inventory. Mortgage rates are expected to remain low, helping buyers manage some of the increases in home prices and keep them motivated to lock in their housing costs for the long term. These factors will provide substantial tailwinds for the housing market into the new year.

The annual HomeDex Report is from the North San Diego County Association of Realtors.

The Lawhead Team would like to share November’s home sales statistics for California. Stay tuned for December’s coming shortly also! If you are thinking of selling, now is the time!!

Inventory was at the lowest level it has been in California in over 16 years! There is 1.9 months of supply.

A home, in November, stayed on the market for 9.0 days on average. This is a record low time for homes to stay on the market.

Sales to list price ratio was 100.5% – the highest record in the last 30 years!

Home sales reached the highest number in 15 years. California existing single-family home sales reached an average of $508,820. The year to year growth for California existing single-family home sales went up 26.3%.

California existing single-family home median price as of the end of November 2020 is $699,000.

Call The Lawhead Team to find out what your home is worth, Because Two Lawheads Are Better Than One!

Below is the HomeDex Report for November for both attached and detached homes in North San Diego County.

November saw the Dow Jones Industrial Average top 30,000 for the first time, while mortgage rates reached new record lows again. These new records have provided encouragement for buyers to move forward on home purchases, which continued to remain strong overall for the month,

Closed Sales increased 14.9 percent for Detached homes and 1.1 percent for Attached homes. Pending Sales increased 3.6 percent for Detached homes but decreased 8.8 percent for Attached homes.

The Median Sales Price was up 12.7 percent to $789,000 for Detached homes and 11.9 percent to $525,000 for Attached homes in November. Days on Market decreased 51.2 percent for Detached homes and 50.0 percent for Attached homes. Supply decreased 59.3 percent for Detached homes and 57.1 percent for Attached homes.

Showing activity remains higher than the same period a year ago across most of the country, suggesting that strong buyer demand is likely to continue into what is typically the slowest time of year. With inventory remaining constrained in most market segments, sellers continue to benefit from the tight market conditions.

The Lawhead Team would like to share the latest HomeDex Report for North San Diego County for October:

October continued to be busier than the calendar normally suggests. Buyer activity remains higher than normal for this time of year, while in many segments of the market housing supply remains much lower than one year ago. Multiple offers remain a common occurrence in many areas, keeping housing hot while the temperatures continue to fall.

Closed Sales increased 36.6 percent for Detached homes but decreased 19.8 percent for Attached homes. Pending Sales increased 35.7 percent for Detached homes and 14.7 percent for Attached homes.

The Median Sales Price was up 11.8 percent to $777,000 for Detached homes and 7.2 percent to $504,000 for Attached homes. Days on Market decreased 38.5 percent for Detached homes and 35.3 percent for Attached homes. Supply decreased 50.0 percent for Detached homes and 53.8 percent for Attached homes.

Mortgage rates dropped to new record lows again in October, helping to offset the monthly mortgage payment increases caused by the rise in home prices seen in many segments of the market across the country. While prices often dip a bit in the winter months, continued buyer demand may temper any price retreats this year.

The HomeDex Report is from North San Diego County Association of Realtors.

The Lawhead Team would like to share the latest “One Cool Thing” about this month’s housing sentiment in California:

Each month California Association of Realtors surveys 1,000 California consumers regarding their sentiments about various aspects of the housing market or the economy that directly impact housing to create a California Housing Sentiment Index. The results of the individual indicators are combined into an equally-weighted diffusion index (where anything over 100 represents a net positive sentiment across the indicators, and anything below 100 represents a net negative sentiment).

Is now a good time to sell a home? 59% of the people asked said yes.

Is it a good time to buy a home? 31% said yes while 69% said no.

Will it be easier to find a home over the next 12 months? 37% say yes and 63% say no.

Do you plan to purchase a home in the next 12 months? 93% said no they do not.

Do you think home prices will rise in the next 12 months? 53% said yes and 47% said no.

Will overall economic conditions improve in California in the next 12 months? 57% said no.

Will interest rates fall in the next 12 months? 54% said no.

Do you think it is a good time to buy a home? 31% said yes.

Do you think it is a good time to sell a home? 59% said yes.

The Lawhead Team would like to share our latest listing on Blackbird Circle in Carlsbad:

Gorgeous Carlsbad Aviara home in Avocet with spectacular tropical backyard. The home has an outrageous back yard with a saltwater pool/spa, gas barbeque, firepit, waterfalls, covered patio and lush landscaping.

Also included is owned solar for the pool/spa!

Home has central air. 3 car garage and 3 fireplaces! Soaring ceilings and walls of windows. Low HOF.

Check out the link to see pictures of this beautiful Carlsbad home!

Want to know how the housing market in North San Diego County is lately? Check out the latest HomeDex highlights below:

The housing and stock markets continue to be the leaders in the economy. In August, showings and pending sales remained at strong levels while the housing market inventory remained limited, continuing the competitive bidding market we have seen in recent months. With the stock indexes at or near record highs as mortgage rates remain near record lows, signs point to a busy fall housing market.

Closed Sales increased 8.8 percent for Detached homes and 12.8 percent for Attached homes. Pending Sales increased 26.8 percent for Detached homes and 24.6 percent for Attached homes.

The Median Sales Price was up 17.1 percent to $820,000 for Detached homes and 10.8 percent to $500,000 for Attached homes. Days on Market decreased 27.0 percent for Detached homes and 17.6 percent for Attached homes. Supply decreased 54.8 percent for Detached homes and 41.7 percent for Attached homes.

As we look towards the fall, we normally see housing activity begin to slow a bit as the back-to-school season begins, but this year is far from normal. While uncertainty remains on what effects the upcoming elections and any seasonal resurgence of COVID-19 may have on the financial and housing markets, the healthy housing demand we see today will create significant tailwinds in the near term.

For more information related to the HomeDex housing market report please visit TheLawheadTeam.com!

The Lawhead Team would like to share some great tips to creating the best environment for homeschooling from CRHE.

Whether by choice or necessity due to coronavirus school closings, millions of parents have suddenly become homeschooling teachers. This new experience can be challenging, but it can blossom into a memorable, rewarding experience as you find ways to connect with your child or children as you learn together, building a lifelong bond. You may also discover your child excels with one-on-one attention instead of being lost in a crowded classroom setting…

Find a Space in Your Home: One of the first steps to ensure learning success is to create a dedicated, organized homeschooling location. Don’t worry–it doesn’t need to be dramatic or picture-perfect; you can change it as needed, depending on your child’s (or children’s) requirements. You’ll want a spot that’s out of the way, but not totally separated from where you are, especially for younger children…

Books, Workbooks, or Online Study:  The subjects and methods of learning for your child vary depending on your circumstances. Some schools have provided online platforms for students during the coronavirus quarantine, while others have sent home study packets. Reach out to your child’s teacher or teachers to ensure you have all the tools you need to homeschool…

Keep to a Schedule: Try to keep to a schedule every day; this helps your child get into a routine not unlike at his or her school. Try to start at the same time each day but have breaks. Schedule fun into the day, along with more serious studies. Younger children learn through play, and it’s a crucial part of their education and growth process…

Click here to read the entire article.

Check out the latest customer service survey from a recent home sale we completed for Rich H:

Here is our letter from Rich about feedback from the services rendered by The Lawhead Team:

After interviewing several realtors from different companies I selected The Lawhead Team to represent me in the sale of my home at 2911 Rancho Cortes, Carlsbad, CA. From start to finish they did an outstanding job representing me. Marilyn Lawhead has an encyclopedia knowledge of the Carlsbad real estate market. She and Creighton are consummate professionals. Marilyn did thorough research of Carlsbad houses for sale and helped me price my house to sell. She always returned my phone calls promptly and expertly answered all of my questions about selling my home. Her referrals were absolutely outstanding for vendors to do repairs to my house. The Lawhead Team knows the real estate law better than any one realtor I ever encountered. Simply put, The Lawhead Team are the best realtors at Coldwell Banker and you are very fortunate to have them work for you. -Rich H.

THANK YOU Rich!! Your kind customer service survey means so much to us!

Check out the article we would like to share from Realtor.com about the 5 Reasons Why This Is Actually The Best Time In Years To Sell Your House:

Talk about a strange summer. Between the continued threat of the novel coronavirus, a wobbly economy, and layoffs happening left and right, it’s no surprise that many who may have hoped to sell their home this season are wondering whether to put those plans on hold—or they’ve already thrown in the towel.

Such hesitancy is understandable. Yet the irony is that, after closely examining the current housing market conditions, many real estate experts believe this summer could be one of the best times to sell a home in years.

“Given the pandemic and uncertainty it’s caused, the general sentiment [among some owners] is that now is not a good time to sell your home,” says Danielle Hale, chief economist at realtor.com®. “Yet so far, the data suggest the opposite—that buyers outnumber sellers in the housing market, which means it’s better to be a seller than a buyer.”

So if you’re a home seller who assumed they should write off this summer’s home-selling season as a lost cause, it’s time for a reality check! Here are a few reasons why the market could actually be moving strongly in your favor.

1. Home buyer demand is back with a vengeance

Granted, in the spring, when COVID-19 was spurring many states to enforce quarantine and ban open houses, home selling understandably went dormant for a while. But now that lockdown restrictions are loosening up in some states, home buyers are out with a vengeance—and many of them are eager to make up for lost time.

Indeed, the real estate market is already seeing strong signs of a rebound, according to the National Association of Realtors®’ Pending Home Sales Index (a forward-looking indicator of home sales based on contract signings). In May, after two months of decline, pending home sales shot up 44.3%—the highest month-over-month jump since 2001, when the index began.

“There’s very significant demand,” says Matthew Gardner, chief economist at Windermere Real Estate. He adds that demand is strongest right now in the suburbs and in smaller, cheaper cities—as buyers look to escape the biggest metros and more companies follow tech titans like Google, Amazon, and Microsoft in allowing employees to work remotely for the foreseeable future.

“If we continue to see an increase in working from home, people can move farther away, where they can get more bang for their buck,” Gardner says.

2. Home inventory remains low

Yet amid this glut of home buyers, the number of homes for sale to actually meet this pent-up demand is at an all-time low.

“There was insufficient supply last year,” says Lawrence Yun, chief economist of the NAR. “This year during the pandemic, the shortage has intensified.”

According to realtor.com’s market outlook, housing inventory in June was 27% lower than a year earlier.

And some reasons for the shortage of available homes have little to do with the recent coronavirus crisis. The number of homes for sale is at a “generational low,” says Gardner, because people are living in their homes longer than they used to. In fact, NAR data shows that Americans are spending an average of 13 years in their homes before moving.

The lower inventory is also the result of fewer distressed properties on the market, “due to the massive government stimulus support, including mortgage forbearance and generous unemployment benefits,” Yun explains.

Click Here to read the rest of the article from Realtor.com!