“2020 will be known for a lot of things, and a record-breaking year for real estate will certainly be one of its more unexpected legacies,” prominent economist Daryl Fairweather said. And he’s right. Most of us would have expected the housing market to suffer from circumstances like a global pandemic and historic inventory shortages. Instead, we’re experiencing a strong seller’s market.
Continue reading A Strong Seller’s Market: The New Normal?
As we begin another year, everyone wants to know: “Where is the housing market headed in 2019?”
It’s not only buyers, sellers, and homeowners who are impacted. The real estate market plays an integral role in the overall U.S. economy. Fortunately, key indicators point toward a stable housing market in 2019 with signs of modest growth in some parts of the country. But for California, that might not be the case. The California Association of REALTORS® (C.A.R.) is predicting a slight growth in home prices, but a slower weaker market overall. These shifting conditions could impact you if you plan to buy, sell, or refinance this year.
Continue reading What’s Ahead for the Housing Market in 2019?
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.
Continue reading September 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.
Continue reading August 2018 North County and San Diego Real Estate Market Report
The July 2018 North County and San Diego Real Estate Market Report shows inventory increasing for a third month in a row while sales continue to drop. Even with this slight growth in inventory, the market is still very competitive for home buyers. Prices continue to rise, and market times are short. Experts predict that demand will continue to outpace supply, and this will hurt San Diego County’s economic growth.
Continue reading July 2018 North County and San Diego Real Estate Market Report
As we head into a new year, the most common question I receive is, “What’s the outlook for real estate in 2018?”
It’s not just potential buyers and sellers who are curious; homeowners also want reassurance their home’s value is going up. The good news is that a strong U.S. economy, coupled with low unemployment rates, is expected to drive continued real estate growth in 2018. However, changes on the horizon could significantly impact you if you plan to buy, sell or refinance this year.
Continue reading What to Expect: Real Estate in 2018
The July 2017 San Diego County Real Estate Report shows that, unlike some parts of the country, the San Diego County real estate market has not slowed down. In fact, year-over median sales prices increased countywide by 11 percent in June. The number of closed sales has dropped, but this is due to a continued lack of inventory.
San Diego County’s housing market has recovered with the median sales price exceeding 2005’s high in May this year. If you’re a homeowner, that’s wonderful news. It you are looking to buy, it’s not as scary as it sounds because when you adjust for inflation, we are still well below pre-recession highs. Only about one-third of the country has seen this recovery.
Continue reading July 2017 San Diego County Real Estate Report and Interest RatesThe CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) recently published its California housing market forecast for 2015. They are predicting something we are already seeing happen in San Diego County – moderate price increases and a return to a more traditional market.