Newport Beach Projects and Initiatives
The residential real estate market is in what I am calling a transitional period. Many of the economic indicators such as home sales and inventory levels are starting to send different signals. Interest rates continue to trend higher, the supply and demand dynamics...
Dave’s Top 10 (Economic Factors You Should Be Following)
I had the honor and pleasure of presenting the latest "Dave's Top 10" to members of the Newport Beach Association of Realtors ("NBAOR"). The presentation is attached here. The Top 10 Factors are: Interest Rates Rent vs. Buy Purchasing Power Alternative Asset Classes...
Eastside Costa Mesa – A Very Hot Market!
Eastside Costa Mesa has been a very "hot" market the past few years. The chart below shows how home values have performed. The average sales price in Q2 2018 for a single family detached home was $959,660, 8.52% above the previous peak in Q3 of 2006 of $884,316. ...
Orange County Home Price Index (OC HPI) – Q2 Results
The Q2 results for the Orange County Home Price Index (OCHPI) are in! Created by Girling REIG, the OCHPI examines home prices in Orange County for a "standard" home. A standard home is defined by the following criteria: Cities: Anaheim, Costa Mesa, Fullerton,...
And the Higher Prices Just Keep on Comin’ (Case-Shiller, CA & OC median home prices and the Q1 BIPI results)
With the beginning of each quarter, new home price data is released that is used to update monthly and quarterly home price indices. At the national, state, county (Orange) and in most local neighborhoods, prices now exceed peak 2006/2007 levels. At the national...
On the Road with Dave
One of my favorite excursions is a visit to another city or state to explore the real estate markets and to identify values, trends and opportunities. In fact, I will periodically post my real estate-related travels ("On the Road with Dave") going forward. Recently...
Affordability – Huntington Beach Chamber of Commerce Panel Discussion
I had the pleasure of participating on a panel at the Economic Conference hosted by the Huntington Beach Chamber of Commerce yesterday at Golden West College. The panel topic was the "Southern California Housing Crisis". My initial remarks were directed at defining...
Dave’s Top 10 Economic (and Other) Factors You Should Be Following (5/1/2018)
Low affordability, constrained inventory levels and increasing interest rates continue to define the real estate market. I presented the second "Dave's Top 10" for 2018 this morning - Enjoy! More to come ... [pdf-embedder...
Case-Shiller Results – Home Price Appreciation Still Strong
The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index (for all nine US Census Divisions), was up 6.3% year over year for February 2018. The 10-City and 20-City Composites were also up, 6.5% and 6.8% respectively, year over year. The 20-city composite saw...
Mortgage Originations: Purchases Show Measured Increases
The steady decrease in rates since 2000 when mortgage rates were around 8.5% fueled the refinance activity over the years. The chart below (source: Mortgage Bankers Association) shows that purchases have steadily increased since 2011 (red), and that refinances have...
Balboa Island Price Index (BIPI) ™, Q1 2018 Results
According to the Balboa Island Price Index (BIPI), Q1 2018 interior lots were valued at $1,913,050, down 1% when compared to the same period in 2017, and virtually unchanged when compared to the previous month (see chart below). The BIPI has steadily increased since...
Orange County UCLA Anderson Economic Forecast
I had the pleasure on 3/28/18 of attending the Orange County UCLA Anderson Economic Forecast. I wanted to share with you the takeaways from the presentations: General Economy The current economy is characterized by stimulative fiscal policy on a fully employed...