Although North County saw a drop in the median sales price compared to January, and San Diego County as a whole was mostly flat, the San Diego County real estate market continued moving upward with healthy year-over price increases.
Real Estate Report
As is typical this time of year, there were more new listings on the market in February, but the number of homes going under contract, or pending, also increased. This is keeping the inventory hovering at a painfully low two months’ supply. Most experts expect to see six months’ supply in a healthy market.
The continuing low interest rates, low resale inventory, and lack of new homes being built in San Diego County has created a housing shortage. This lack of available housing is keeping upward pressure on home prices and rents. We’ve seen an increase in the number of homes being built in the county, 25 new projects this year according to the Union-Tribune. It’s still not enough to meet demand, and many of those homes are in a price range that most buyers can’t afford.
See below for today’s interest rates. Click on the links to read the full housing statistics reports.
Continue reading March 2016 San Diego County Real Estate Report and Interest Rates
No matter if you’re in a buyer’s or seller’s market, there are a few critical steps you can take to make a smarter purchase. Since buying a home is likely the biggest single investment you will ever make, being prepared will help you make a better purchase. Here are 7 tips and tricks to buying a home.
When you list your home for sale, you may think you’ve priced it right, staged it beautifully, and timed the market for a quick sale.
North County and San Diego County Events – March include everything from mountain bike racing to garden shows, Easter egg hunts and music festivals.
You can’t avoid paying taxes, and we all need to pay our fair share. However, paying your fair share shouldn’t place an unjust burden on you. As a homeowner, your tax burden is doubled because you pay both income and property taxes. To decrease that burden and boost your tax savings, take advantage of these homeowner tax deductions. As a result, you can use your tax savings to go on a vacation, increase your child’s college fund, build upon your retirement fund, or complete another home improvement project.
You are probably aware that federal law entitles you to a free copy of your credit report annually by each of the three credit bureaus: TransUnion, Experian, and Equifax.
North County and San Diego County Events – February include great music, wonderful art, fun sporting events and terrific museum discounts!
Despite existing-home sales dropping last November, the national real estate market is primed for expansion in 2016. Here’s why. Better weather in many parts of the country resulted in an increase in single-family and multifamily home construction. Also, the population of millennial homebuyers is expected to grow in 2016. This means increased demand to help the housing market see positive gains. With unemployment steadily decreasing, orders for new durable goods increasing 3 percent, inflation staying level, and income beginning to grow, the Fed decided to raise interest rates. The rate increase signals that our economy is getting stronger. So, don’t let the drop in existing-home sales in November fool you. With a stronger economy, home sellers can expect eager home buyers in 2016.