John Karevoll
John Karevoll
affordable cycle happen include itself played
The million-dollar cycle hasn't completely played itself out in the more affordable areas, which include the Inland Empire. There is more to happen there.
county decline diego furthest happen prices question san uncharted wondering
San Diego is the county that is kind of the furthest off into this uncharted statistical territory, so everybody's wondering what is going to happen locally. The big question there is will prices decline significantly or will they flatten out.
appreciation definitely entry happening knew later less markets middle strong
We knew this would happen, and it's happening later than we thought. We thought appreciation was going to come down. We definitely thought the entry and middle markets would be less strong than they are today.
balance behind boom buyers cycle estate market phase supply
In most markets, the boom phase of the real estate cycle is behind us. The market is reestablishing a balance between supply and demand, buyers and sellers.
fast half year
It's still going up, not as fast as it was a half year or a year ago.
behind boom cycle gains question time
The boom part of the cycle is over. Most of the gains this time around are behind us. Now the question is how much of those gains do we get to keep.
activity condo include increased last numbers pull since
These numbers include condo conversions and (that) activity increased sharply last year. Since they are lower-cost homes, they pull down the median.
clearly expensive fast homes market mix selling
It's clearly a market mix issue. Expensive homes are not selling as fast as inexpensive homes.
doubling four last prices
We've had a doubling of prices in the last four years.
activity clearly default determined downs percent prices ups whether worth
The ups and downs of default activity are clearly determined by whether prices are going up by 4 percent, or 14 percent or 25 percent annually. If it's worth more, you have more options.
market
That part of the market is pretty stable, it's just that there's been across-the-board appreciation.
indication march
Once we have March figures, we'll have a much better indication of what's going on.
buy demand homes people strong
Demand is still very strong out there. The people who want to buy homes still outnumber the people who want to sell.
county diego easily san
San Diego has easily been the county with the most (conversion) activity.