This Week's Market Update for Escondido looks similar to last week, but we're still optimistic that 2012 is going to be a much better year than 2011 was. Let's get to the stats first and then our take. The median list price in Escondido this week is $316,938. There are 562 properties that have been on the market for an average of 152 days. This number is exaggerated by the short sale numbers which move the days on market upward significantly. Inventory...continue reading...

WASHINGTON (November 30, 2011) – Pending home sales rose strongly in October and remain above year-ago levels, according to the National Association of Realtors. The Pending Home Sales Index,* a forward-looking indicator based on contract signings, surged 10.4 percent to 93.3 in October from 84.5 in September and is 9.2 percent above October 2010 when it stood at 85.5. The data reflects contracts but not closings. Lawrence Yun, NAR chief economist, said improved contract activity is a hopeful sign. “Home...continue reading...

You may want to stop waiting and start moving on the purchase your new home or refinance of your existing home; the average rate on the 30-year fixed mortgage rose sharply this week after falling below 4 percent for the first time in history. Freddie Mac said Thursday that the rate on the 30-year fixed loan rose to 4.12 percent. That’s up from 3.94 percent last week, the lowest rate ever, according to the National Bureau of Economic Research. The average...continue reading...

This Week The median list price in SAN DIEGO, CA this week is $459,900. The 2786 properties have been on the market for an average of 136 days.  Inventory has been lightening lately and the Market Action Index has been trending up. These are mildly positive indications for the market. Supply and Demand The market has shown some evidence of slowing recently. Both prices and inventory levels are relatively unchanged in recent weeks. Watch the Market Action Index for changes as it can...continue reading...