Monthly Indicators | January 2016
The natural ending point that is each December gives way every year to the optimism of January. This is particularly pronounced when the economy is strong and economists across the land are predicting increases in both prices and home sales. Granted, there has been some measured language surrounding the positive thinking. Although we are looking forward to a mostly decent year in real estate, it should be the kind of activity akin to a sure and steady life being lived rather than the jolt of a lottery win, which is just the way we want it.
What to Watch
Other than the change of another month and year, little else is changed in residential real estate both nationally and locally. Unemployment is solidly about the same, housing metric trends are running about the same for now and the sunny outlook is still at about high noon. Same is the sound of 2016, so get curled up and comfy with the song, because we are likely to sing it a lot this year.
Monthly Snapshot – January, All Properties
Residential real estate activity in San Diego County, comprised of single family properties, townhomes and condominiums. Percent changes are rounded.
Median Sales Price – January
Point at which half of the sales sold for more and half sold for less, not accounting for seller concessions, in a given month.
Days on Market Until Sale – January
Average number of days between when a property is listed and when an offer is accepted in a given month.
Inventory of Homes For Sale – January
The number of properties available for sale in active status at the end of a given month.
Housing Affordability Index – January
This index measures housing affordability for the region. An index of 120 means the median household income is 120% of what is necessary to qualify for the median-priced home under prevailing interest rates. A higher number means greater affordability.
Data Courtesy of The San Diego Association of Realtors. Market Data current as of February 5, 2016. All data from Sandicor, Inc. Powered by 10K Research and Marketing. Information deemed reliable but not guaranteed.
Is someone you know thinking about buying or selling?
Have them call me! I’ll help them get started.
Laura Sechrist Molenda