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 March’s HomeDex Report for North San Diego County:

As COVID-19’s impact spread across the country in March, the stock market declines started in February accelerated downward before recovering a bit in the last week of the month. With volatility across all the financial markets, lenders began tightening underwriting standards and some buyers found they no longer were approved for a loan. Massive layoffs also shook the economy with 6.6 million initial jobless claims filed in a single week—double the number last week and ten times higher than any other week on record prior to this month.

HomeDex Report: Closed Sales decreased 3.5 percent for Detached homes but increased 22.3 percent for Attached homes. Pending Sales decreased 20.8 percent for Detached homes and 19.9 percent for Attached homes.

The Median Sales Price was up 4.4 percent to $715,000 for Detached homes and 1.9 percent to $470,000 for Attached homes. Days on Market decreased 18.4 percent for Detached homes and 27.8 percent for Attached homes. Supply decreased 37.9 percent for Detached homes and 26.1 percent for Attached homes.

While the effect of COVID-19 is varied throughout the country, we are likely to see impacts to housing activity now and into the coming months. Its continued spread is leading many companies and consumers to change their daily activities. ShowingTime is closely monitoring the situation and releasing daily updates on changes in showing activity.

Want to know what is going on in North County San Diego when it comes to buying and selling homes? Check out the latest statistics from the HomeDex report:

• Rising home prices, higher interest rates and increased building material costs have pressured housing affordability to a ten-year low, according to the National Association of Home Builders. Keen market observers have been watching this situation take shape for quite some time. Nationally, median household income has risen 2.6% in the last 12 months, while home prices are up 6.0%. That kind of gap will eventually create fewer sales due to affordability concerns, which is happening in several markets, especially in the middle to high-middle price ranges.
• Closed Sales decreased 15.3 percent for Detached homes and 15.3 percent for Attached homes. Pending Sales decreased 9.4 percent for Detached homes and 10.4 percent for Attached homes.
• The Median Sales Price was up 9.4 percent to $755,000 for Detached homes and 2.3 percent to $445,000 for Attached homes. Days on Market increased 12.9 percent for Detached homes and 25.0 percent for Attached homes. Supply increased 25.0 percent for Detached homes and 46.7 percent for Attached homes.
• While some are starting to look for recessionary signs like fewer sales, dropping prices and even foreclosures, others are taking a more cautious and research-based approached to their predictions. The fact remains that the trends do not yet support a dramatic shift away from what has been experienced over the last several years. Housing starts are performing admirably if not excitingly, prices are still inching upward, supply remains low and consumers are optimistic. The U.S. economy is under scrutiny but certainly not deteriorating.

HomeDex report is from the North San Diego County Association of Realtors.

The housing market continues to stay competitive according to the latest HomeDex Report for North County San Diego attached and detached homes:

Just like last year at this time, prospective home buyers should expect a competitive housing market for the next several months. With payrolls trending upward and unemployment trending downward month after month in an extensive string of positive economic news, demand remains quite strong.

Given the fact that gradually rising mortgage rates often infuse urgency to get into a new home before it costs more later, buyers need to remain watchful of new listings and make their offers quickly.

Closed Sales decreased 18.4 percent for Detached homes and 17.0 percent for Attached homes. Pending Sales decreased 5.9 percent for Detached homes and 3.4 percent for Attached homes.

The Median Sales Price was up 4.0 percent to $728,000 for Detached homes and 10.0 percent to $480,000 for Attached homes. Days on Market decreased 7.1 percent for Detached homes and 19.0 percent for Attached homes.

Supply increased 8.3 percent for Detached homes and 14.3 percent for Attached homes.

Although home sales may actually drop in year-over-year comparisons over the next few months, that has more to do with low inventory than a lack of buyer interest. As lower days on market and higher prices persist year after year, one might rationally expect a change in the outlook for residential real estate, yet the current situation has proven to be remarkably sustainable likely due to stronger fundamentals in home loan approvals than were in place a decade ago.

Want to find out more about the HomeDex Report for your home? Call The Lawhead Team!

The Lawhead Team would like to share the latest HomeDex Report for median sales prices for detached single-family homes in Cardiff, Carlsbad, Aviara, and Encinitas.

Median Sale Price – Detached Single-Family 

Rolling 12-Month Calculation

• 92024 Encinitas —
• North San Diego County —

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• 92011 Carlsbad —
• North San Diego County —

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• 92009 Carlsbad —
• North San Diego County —

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• 92007 Cardiff —
• North San Diego County —

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Source: North San Diego County Association of REALTORS

The Lawhead Team would like to share the latest housing affordability statistics for detached homes in North San Diego area from HomeDexTM

Housing Affordability – Single-Family Detached Homes

• The monthly payment – including principal, interest, property taxes, and insurance – for the median-priced SFD home in North San Diego County increased, to $2,991 in May 2015 (based on a conventional mortgage) from $2,940 in April 2015. The monthly payment for the median-priced SFD home in non-North San Diego County increased, to $2,346 in May 2015 from $2,329 in April 2015.
• The percent of San Diego County households that could afford the median-priced SFD home in North County remained at 27 percent in May 2015, according to the North San Diego County HomeDexTM; the affordability percentage in non-North County zip codes decreased, from 38 percent in April 2015 to 37 percent in May 2015.
• In May 2014, the affordability percentage was 27 percent in North San Diego County and 36 percent in non-North San Diego County.
• The HomeDexTM housing affordability percentage for all homes in North San Diego County – single-family detached and single-family attached together – was at 33 percent in May 2015.

Housing Affordability – Single-Family Attached Homes

• The monthly payment – including principal, interest, property taxes, and insurance – for the median-priced SFA home in North County increased from $1,838 in April 2015 to $1,847 in May 2015. The monthly payment for the median-priced SFA home in non-North San Diego County zip codes increased, from $1,583 in April 20115 to $1,609 in May 2015.
• The percent of San Diego County households able to afford the median-priced SFA home in North County remained at 48 percent in May 2015.
• The SFA home affordability level for non-North San Diego County zip code decreased to 55 percent in May 2015 from 56 percent in April 2015.
• 44 percent of county households were able to afford the median-priced SFA home in North San Diego County in May 2014, and 54 percent able to afford the median-priced SFA home in non-North County zip codes in May 2014.