So Cal Real Estate Market Beat

September 30, 2020

l

By Saeed Ghaffari

So Cal Real Estate Market Beat

Is it finally happening? We see red dots all across our data in So Cal except for new listings in San Diego County.

In LA county, new listings dropped 1.88% and closings dropped by 7.3% from one week to another.  In OC, new listings dropped 4.96% and closings were lower by 11.08%. Riverside county had 7.77% drop in new listings and 8.69% drop in closings. San Bernardino county had the highest drop in both new listings and closings, 12.3% and 12.74% respectively among the first 4 counties. Strangely, San Diego county had a 36% increase in new listings and suffered the highest drop in closings, a negative of 15.55%.

 

The delta for number of days on the market for properties closed was positive (drop) for all counties except for Orange which had a 3.33% increase.  The number of days on the market for all 5 counties are still way below the national average.

The trend is somewhat normal for the season, but it could also be an indication of the COVID-19 impact on the housing market and the overall weakened economy. The coming presidential election may have a hand in it too.  Thank goodness for the historically low interest rates, one must wonder what the housing market would have looked like if that wasn’t in our favor!

 

Need a realtor in your area? Click on More & More Realtors

You Deserve 100% Commission

Learn about our 100$ Commitment to 100%  Commission

Gold Sponsor of M&M

Order your NHD Report  on M&M

Call Us Today

714 469 5529

M&M NEWS

Related Articles

So Cal Real Estate Market Beat

The new listings surged back up from last week all across So Cal, with increases ranging from 4.94% in San Diego to as high as 7.7% in Riverside. We also added Ventura County to our report as it is one of the smallest counties in the So Cal region.   The closings...

What’s Going On With The Economy?

One way to gauge the state and the direction of the economy is by watching the mortgage lenders’ lending attitude.  When the economy takes a hit, lenders pull back, tighten their lending guidelines and take a more conservative approach to lending. When it is going...

The pros & Cons of Homeowner Association

It seems as if the homeowner associations are a trend across the country.  According to the U.S. census bureau, 59% of the newly constructed homes in 2014 were built with an association in place and the number is growing.  Homeowner Associations offer many benefits to...