For the first time since June, North County and San Diego real estate markets both showed year-over increases. Along with higher prices, we saw more homes go under contract and fewer new listings come on the market.

Lower interest rates have helped bolster prices, , but experts are still predicting a slowing market. They cite high home prices compared to wages, low inventory and the difficulty in getting a mortgage as factors.

Continue reading November 2019 North County and San Diego Real Estate Markets →

North County and San Diego real estate gave us another month of mixed results. Prices dropped slightly in North County, but countywide they saw a slight, year-over gain. The strong economy, low interest rates and tight inventory are keeping pressure on the market, but our high prices are working against that. According to Forbes, home prices in the San Diego market are 19 percent higher than they should be based on incomes in our area.

Although some experts predict our market is at a higher risk of a downturn, others don’t put the San Diego market into their high-risk category should a recession hit. What does this mean for you as a home buyer or seller? It means there are still great opportunities for you. As a buyer, you should focus on long-term investments, and if you are selling, make sure your home is one of the best values for buyers in your specific market.

North County and San Diego real estate markets show a mixed bag of results this month. We should be seeing a robust market with unemployment and interest rates so low, but price increases are stalling out and sales continue to slow.

Experts cite several reasons for the slowing market, the 2017 tax changes that limit state and local deductions, trade wars, and fewer foreign buyers. Some think that home buyers are waiting for prices to drop. But San Diego County’s lack of available homes for sale may keep that from happening. Although we have been seeing inventory slowly creep upwards, it pulled back this month. If that continues, there will be fewer choices for home buyers.