Poppies! I blame the poppies for the slow housing start this year. People couldn’t get to the region to buy houses because of the poppypalooza or the apoppycalypse or whatever you call it. But it truly was spectacular and another reminder why, if you’re going to live in California, this isn’t a bad place to […]
Gene Wunderlich, Sr. Staff Writer
Prior to his retirement in 2021, Wunderlich served on a number of local non-profits and boards. He spent the past decade as a legislative advocate for the housing and real estate industries as well as a coalition of local Chambers of Commerce advocating on behalf of small and local businesses.
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Our local housing market experienced a little bounce in February. That’s somewhat unusual but not unprecedented in that February sales are generally a little softer than January, plus it’s a short month and all. But as forecast by pending sales coming into the month, sales in February were up about 12% over our dismal January, […]
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As I pointed out on the demand chart, pending sales are a precursor of future closed sales and last month there were only 560 pending sales. January pending sales have increased to 721 indicating that February sales are rebounding. Historically, that’s a little early to see a volume increase like this and may be positive […]
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But we were reminded last month by National Association of Realtors® Chief Economist Dr. Lawrence Yun that our perception of current events is clouded by how good or bad our memory is. For example, home sales locally and across the country will be down this year compared to last. Nationally they’re expected to drop about […]
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Statewide elections also saw the return of our local incumbents Senator Jeff Stone in the 28th District, and Assembly Members Melissa Melendez in District 67 and Marie Waldron in District 75. They will also be returning to a state legislature dominated by Democratic members elected to a super-majority in both chambers plus a Democratic Governor, […]
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We’ve just returned from a series of state and federal meetings where we had the opportunity to celebrate some legislative victories from the past year, lick our wounds over others and foment plans to deal with the changed political landscape we will encounter at the city, county, state and national level in 2019. We are […]
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Speaking of 2008, September marked the 10th anniversary of our last great meltdown. Lehman Brothers collapsed, bringing others to the brink, precipitating a general crash in the housing market nationwide. We got towed along for a 60%+ drop in local home values and a 50%+ drop in sales over the next 18 months. Fun times! […]
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As I pointed out last month, I’m just not seeing it. While our market has indeed slowed from its more robust pace of the past few years, there’s simply no indicators pointing to a crash. The market is still strong, the underlying fundamentals of the economy are sound and most prognosticators are in agreement that […]
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Last month I talked about the apparent correction our housing market appears to have entered. Within days headlines from MSNBC and others were howling about the impending housing ‘CRASH’. So the question these days is ‘Are we headed for a crash, or just a correction?’ At the risk of disagreeing with MSNBC (when was the […]
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The housing market in our region appears to be in a state of flux right now across several indices. Historically June has been our highest month for single family home sales – and it may be again this year. But sales are well off last year’s pace, posting the lowest 1st half sales in the […]