Housing Firing On All Cylinders To End 2012

The XHB is just a few cents shy of a 52 week high...

Home builder confidence continues to rise and is at its highest level since early 2006. Starts should continue to follow the trend higher.

And then there is the latest California data.  http://www.car.org/newsstand/newsreleases/2012releases/novembersalesandprice/

Median price up big (yes, this is mainly a mix issue though), inventory low, and a crazy low 3.1 months of inventory.

Bring on all the supposed shadow inventory, the market is aching for more supply. Spring 2013 should be pretty strong at this rate.

Uh Oh Bears, Values Still Creeping Up

Address: 959 25th - 90403

Listing History: 10/25/12 - $1,350,000

SOLD: 12/7/12 - $1,610,000

You can see some other 90403 lot value type situations on my previous post. Here we have another well bid for property. Values went from a little north of $1.4mm earlier this year to around $1.6mm now.

I told you so.

Happy Holidays!

90403 Lot Values Continue Creeping Up

927 25th sold on 3/23/12 for $1.42mm

1030 Harvard sold on 6/13/12 for $1.403mm

Let's call both of these sales "first half 2012" sales. And it's nice that we have one sale from east of 26th and one west of 26th.

Now let's see a couple recent sales from similar areas.

918 Princeton sold on 11/30/12 for $1.555mm

824 22nd sold on 11/30/12 for $1.6mm

These late 2012 sales show values continuing to creep up.