Category Archives: North County Real Estate

Interest Rates, North County Real Estate, San Diego County Housing Market, San Diego Real Estate

June 2019 North County and San Diego Real Estate Report

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June 2019 North County and San Diego Real Estate Report

June 2019 North County and San Diego Real Estate Report continues with trends that started last summer. Home prices are slowly rising while the volume of home sales drops and available inventory creeps up. North County showed a year-over median price increase of just 1.0 percent while San Diego County as a whole saw year-over prices rise by 2.6 percent.

The S&P CoreLogic Case-Shiller Indices put San Diego metro price gains at the lowest of their 20-city index for the fourth month in a row. Even with low interest rates, the price of homes in high-cost markets like San Diego is keeping buyers at bay. Some experts do believe that interest rates may drop even lower. Those lower rates could help warm up our market.

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Interest Rates, North County Real Estate, San Diego County Housing Market, San Diego Real Estate

May 2019 North County and San Diego Real Estate Report

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May 2019 North County and San Diego Real Estate Report

The May 2019 North County and San Diego Real Estate Report shows that after climbing at a fairly fast pace for several years, home-price growth is slowing down. North County saw its first year-over, median price downturn in 43 months. Countywide, prices continued to move up at a moderate rate of 2.4 percent compared to the previous April.

Before you panic about a crash, most experts don’t see one coming soon. They blame this slowdown on a lack of affordability in high priced markets like ours. This lack of affordability is because home prices have risen faster than wages.

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Interest Rates, North County Real Estate, San Diego County Housing Market, San Diego Real Estate

April 2019 North County and San Diego Real Estate Market Report

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April 2019 North County and San Diego Real Estate Market Report

The April 2019 North County and San Diego Real Estate Market Report has good news for both home buyers and sellers. If you are thinking of buying, there’s good news all around. Home appreciation has slowed down considerably, interest rates are holding steady, and homes were as affordable in March as they were a year earlier. According to RealEstate.com, it’s even improving for first-time buyers.

If you are thinking of selling, it’s still a great time. Although inventory is slowing growing, it’s still very low. And this is a great time of year to sell a home. Realtor.com® claims that the beginning of April is the best time to put your home on the market. Their research shows that homes sell for more now than they do at the beginning of the year, and there are fewer homes for sale, thus less competition, than there will be in coming months.

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Interest Rates, North County Real Estate, Real Estate Forecast San Diego, San Diego County Housing Market, San Diego Real Estate

February 2019 North County and San Diego Real Estate Market Report

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FEBRUARY 2019 NORTH COUNTY AND SAN DIEGO REAL ESTATE MARKET REPORT

The North County and San Diego Real Estate Market Report for February 2019 continues to show a slower market, but with drops in interest rates that started at the end of December, there has been a slight pickup in sales. That’s why closed sales numbers were down 16.2 percent in North County and 17.9 percent countywide compared to the previous January. But pending sales, which show more recent activity, dropped quite a bit less with a 1.1 percent decrease in North County, and a drop of 3.7 percent countywide.

Experts anticipate that interest rates will rise as high as 5.5 percent in 2019. If this happens, it will most likely put a damper on home sales and appreciation. But because income growth is strong in San Diego, Zillow still predicts our market will be one of the top 10 hottest markets in 2019.

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Interest Rates, North County Real Estate, Real Estate Forecast San Diego, San Diego County Housing Market, San Diego Real Estate

January 2019 North County and San Diego Real Estate Market Report

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January 2019 North County and San Diego Real Estate Market Report

The North County and San Diego Real Estate Market Report for January 2019 shows stronger price growth in December, but continues with the same declining market trends that began last April. So even though the median sales price is still climbing, the number of sales continues to drop. We are also seeing longer market times and a growing inventory of homes for sale.

Experts predict more of the same in 2019 with the California Association of REALTORS® noting that while the median home price may rise slightly, home sales will continue to drop. If our slower market is keeping you on the fence as far as buying, you may want to reconsider. Interest rates have recently decreased in reaction to stock market volatility and trade tensions, but most experts expect them to climb, possibly as high as 5.5 percent, in 2019.

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Interest Rates, North County Real Estate, Real Estate Forecast San Diego, San Diego County Housing Market, San Diego Real Estate

December 2018 North County and San Diego Real Estate Market Report

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December 2018 North County and San Diego Real Estate Market Report

The North County and San Diego Real Estate Market Report for December 2018 brings more evidence of a shift from a sellers’ to a buyers’ market. Although unemployment is the lowest it’s been in more than 40 years and wages have grown, they still have not kept up with home prices. This coupled with rising interest rates has made affordability very difficult, especially in more expensive markets like ours.

What should we expect in 2019? Most experts predict that interest rates will continue to increase in 2019. They expect minimal price increases and a slowdown in home sales. Although buyers are nervous about this market, it’s a good time to lock in interest rates and find better deals on homes.

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Interest Rates, North County Real Estate, San Diego Real Estate

November 2018 North County and San Diego Real Estate Market Report

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November 2018 North County and San Diego Real Estate Market Report

This month’s North County and San Diego Real Estate Market Report shows a continued shift away from the strong sellers’ market we have been in for almost seven years. Sales have slowed down to their lowest point since 2007.

And although year-over prices are increasing, the much-watched CoreLogic Case-Shiller Indices show a decrease in prices of repeat sales. For a more detailed explanation and to learn more about what’s currently happening in our market, take a look at last week’s blog post, “How’s the Market?”

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Interest Rates, North County Real Estate, San Diego Real Estate

October 2018 North County and San Diego Real Estate Market Report

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October 2018 North County and San Diego Real Estate Market Report

The North County and San Diego Real Estate Market Report has been talking about market changes since spring. Now the numbers are finally coming in, and major sources are reporting a shift in the real estate market. This is what the California Association of Realtors® said, “Home sales in California have been lackluster in recent months and prices began to show signs of softening. We cannot deny that a market shift is underway anymore.”

Realtor.com® agrees and says the market is shifting from a seller’s to a buyer’s market with “California experiencing the nation’s biggest increase in the number of homes seeing list price reductions.”

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Interest Rates, North County Real Estate, San Diego Real Estate

September 2018 North County and San Diego Real Estate Market Report

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September 2018 North County and San Diego Real Estate Market Report

The September 2018 North County and San Diego Real Estate Market Report continues a pattern that started five months ago. Although we are still seeing strong price increases, the number of homes available for sale has been growing while the number of homes selling continues to drop. Along with these changes, homes are staying on the market longer, and sellers are not receiving as much of their asking price when their homes sell.

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Interest Rates, North County Real Estate, San Diego Real Estate

August 2018 North County and San Diego Real Estate Market Report

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AUGUST 2018 NORTH COUNTY AND SAN DIEGO REAL ESTATE MARKET REPORT

The August 2018 North County and San Diego Real Estate Market Report indicates a continuation of a market shift that started four months ago. Inventory is growing. Sales are slowing down, and homes are starting to stay on the market longer. CNBC reports that San Diego saw the largest increase in inventory in the second quarter compared to other high priced communities.

This is great news if you have been thinking of buying. The market is still tight and homes are still selling quickly, but you will have more choices. It’s cautionary news if you are planning on selling. Even though inventory is growing, it is still well below norms. But now home sellers have more competition and should price their homes to be the best option in their marketplace.

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