Articles Filed Under: Real Estate Economics

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DataQuick Reports Part 2: The SocketSite Insight

DataQuick Reports Part 2: The SocketSite Insight

Trying to predict the market is often considered a fools game, but we don’t see any reason to let that stop us. Two weeks ago we promised our commentary and insight into DataQuick’s March sales stats for San Francisco, so here we go… While median sales prices in San... Read More »

From ‘Sticky’ To ‘Slippery’: A Fundamental Change In The Housing Market?

Technical traders and analysts often talk about support levels or a floor price. In the housing market, real estate agents talk about “stickiness.” Previous downturns in the housing market have left homeowners owing more that their homes were worth (i.e. “underwater”) and unable, or unwilling, to sell or move.... Read More »

DataQuick Reports Part 1: The Basic Report

Ten hours later and this is already old news, but for those of you who missed it, DataQuick reported Bay Area sales stats for March this morning. For the Bay Area, the “median price paid for a Bay Area home was $622,000 last month. That was up 1.0 percent... Read More »

There Is No Bubble! (Unless You Live In San Mateo)

Gary and Margaret Hwang Smith, two economics professors at Pomona College, recently concluded that there is no national housing bubble (“Bubble, Bubble, Where’s the Housing Bubble?“). In fact, they suggest that numerous cities across the nation are actually undervalued. “They argued that the value of a home is determined... Read More »

The Danger (Not Wonder) Years

Quick, what’s the ‘riskiest’ year in the life of a mortgage from a lenders perspective? Think it’s the first? Guess again. “Although borrowers are often told that the first year is the hardest, delinquencies have historically reached their highest points during the third and fourth years of mortgages…After years... Read More »

New Home Sales Plunge In The West

Right on the heels of Thursday’s report of an increase in previously owned home sales, the Commerce Department reports that national new home sales fell by 10.5% last month – the largest drop in nine years. And perhaps more noteworthy for readers of SocketSite, new home sales in the... Read More »

San Francisco Prices Up/Sales Down

According to the California Association of Realtors, Bay Area median home prices gained 1.7% last month, and on a year-over-year basis remain up 6.1% (8.0% in San Francisco County). Not too surprisingly, Bay Area sales volume was relatively flat as compared to January (-0.4%) and sales volume continues to... Read More »

Projecting A 12.5% Default Rate On ARMs

Originally we wrote, “Nothing new, but a good reminder from The Wall Street Journal”. And then we re-read the last sentence of the third paragraph: “In the hot housing market of recent years, many households took advantage of “affordability” mortgage loans — heavily promoted by lenders — that hold... Read More »

San Francisco Sales Slide In February

According to DQNews, “Bay Area home sales remained at their lowest level in five years in February, as price increases continued to slow….” San Francisco sales volume is off by almost 19% compared to 2005, and although the median sales price rose 1.5% last month, year-over-year appreciation now stands... Read More »

The Bull

Okay, so who’s the genius at NAR that decided that a “balloon is a much better image” to represent the strength of the real estate market? Are we the only ones who remember week-old birthday balloons lying shriveled on the floor? Or popping balloon after balloon in failed attempts... Read More »