Monthly Market Overview North San Diego County December 2021

The 2021 housing market was one for the history books. After three consecutive months of increases recently, existing home sales are on pace to hit their highest level in 15 years, with an estimated 6 million homes sold in 2021 according to the National Association of REALTORS®. Sales prices reached new heights, inventory hit rock bottom, and homes sold in record time, often for well above asking price. Mortgage rates, which began the year at historic lows, remain attractive, and homeowners who choose to sell in the coming months can expect to see plenty of buyer activity due to pent-up demand during the pandemic.

  • Closed Sales decreased 22.5 percent for Detached homes and 19.5 percent for Attached homes.
  • Pending Sales decreased 18.1 percent for Detached homes and 15.4 percent for Attached homes.
  • The Median Sales Price was up 14.1 percent to $901,000 for Detached homes and 21.0 percent to $651,000 for Attached homes.
  • Days on Market decreased 13.0 percent for Detached homes and 40.9 percent for Attached homes.
  • Supply decreased 53.8 percent for Detached homes and 70.0 percent for Attached homes.

Looking ahead, experts anticipate many of the housing market trends of 2021 will continue in 2022, albeit at a more moderate level. Strong buyer demand and inventory shortages are likely to persist over the next year. Home sales are projected to remain strong but will be tempered by the limited supply of homes, higher sales prices, and rising interest rates, with the Federal Reserve planning multiple rate hikes in the new year. Price growth is expected to slow somewhat as a result, but affordability will likely remain a top constraint for some homebuyers.

Monthly1221

Merry Christmas To One and All

Christmas or Christmas Day (Old EnglishCrīstesmæsse, meaning “Christ‘s Mass“) is an annual festival commemorating the birth of Jesus Christ, observed most commonly on December 25 as a religious and cultural celebration among billions of people around the world. A feast central to the  Christian liturgical year, it is prepared for by the season of Advent or the Nativity Fast and initiates the season of Christmastide, which historically in the West lasts twelve days and culminates on Twelfth Night; in some traditions, Christmastide includes an Octave. Christmas Day is a public holiday in many of the world’s nations, is celebrated culturally by a large number of non-Christian people, and is an integral part of the holiday season.

Continue reading

Thanksgiving Day

“The First Thanksgiving at Plymouth” (1914) By Jennie A. Brownscombe

History

Prayers of thanks and special thanksgiving ceremonies are common among almost all religions after harvests and at other times. The Thanksgiving holiday’s history in North America is rooted in English traditions dating from the Protestant Reformation. It also has aspects of a harvest festival, even though the harvest in New England occurs well before the late-November date on which the modern Thanksgiving holiday is celebrated.

In the English tradition, days of thanksgiving and special thanksgiving religious services became important during the English Reformation in the reign of Henry VIII and in reaction to the large number of religious holidays on the Catholic calendar. Before 1536 there were 95 Church holidays, plus 52 Sundays, when people were required to attend church and forego work and sometimes pay for expensive celebrations. The 1536 reforms reduced the number of Church holidays to 27, but some Puritans wished to completely eliminate all Church holidays, including Christmas and Easter. The holidays were to be replaced by specially called Days of Fasting or Days of Thanksgiving, in response to events that the Puritans viewed as acts of special providence. Unexpected disasters or threats of judgement from on high called for Days of Fasting. Special blessings, viewed as coming from God, called for Days of Thanksgiving. For example, Days of Fasting were called on account of drought in 1611, floods in 1613, and plagues in 1604 and 1622. Days of Thanksgiving were called following the victory over the Spanish Armada in 1588 and following the deliverance of Queen Anne in 1705. An unusual annual Day of Thanksgiving began in 1606 following the failure of the Gunpowder Plot in 1605 and developed into Guy Fawkes Day.

Continue reading

Veterans Day

Veterans Day is an official United States public holiday, observed annually on November 11, that honors military veterans, that is, persons who served in the United States Armed Forces. It coincides with other holidays, including  Armistice Day and  Remembrance Day, celebrated in other countries that mark the anniversary of the end of  World War I; major hostilities of World War I were formally ended at the 11th hour of the 11th day of the 11th month of 1918, when the Armistice with Germany went into effect. The United States previously observed Armistice Day. The U.S. holiday was renamed Veterans Day in 1954.

Veterans Day is not to be confused with Memorial Day; Veterans Day celebrates the service of all U.S. military veterans, while Memorial Day honors those who  died while in military service.