Reports of March’s record-breaking price increases are all over the news right now. But did you know that in the North County and San Diego real estate markets home prices grew even faster in April?
Continue reading May 2021 North County and San Diego Real Estate Markets
The March 2019 North County and San Diego Real Estate Market Report shows only modest appreciation compared to the previous year with properties taking longer to sell and fewer homes selling overall. This market adjustment will help bring the cost of purchasing a home more into alignment with buyers’ ability to pay.
The Fed is also helping with the cost of purchasing a home, and announced yesterday that they would hold interest rates steady for now and didn’t expect to increase them this year. This is good news for home buyers.
Continue reading March 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.
Continue reading February 2019 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.”
Continue reading October 2018 North County and San Diego Real Estate Market Report
The October 2017 San Diego Housing Market Report is showing strong year-over price increases, and a continued drop in the number of new listings and sales compared to 2016. Despite our lack of inventory, the San Diego County market moved up to number five on the hottest U.S. markets list from realtor.com® for September.
Continue reading October 2017 San Diego Housing Market Report
The September 2017 San Diego County Real Estate Report continues to indicate strong price increases, fewer sales, and even fewer homes coming on the market. The real estate news magazine first tuesday Journal predicts that once San Diego makes a full job recovery in 2018, real estate sales volume will rise and peak in 2020 or 2021.
The August 2017 San Diego County Real Estate Report shows the same trends we’ve been watching for a while, strong price increases, fewer sales, and even fewer homes coming on the market. Although some have brought up the disturbing idea of a housing bubble, most experts don’t see a bubble in our near future.
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 June 2017 San Diego County Real Estate Report still shows a hot market with fast moving sales and a serious lack of inventory. But this cannot go on forever. Real estate markets are cyclical. Some parts of the country are already showing a slowdown in appreciation rates as reported by CNBC.
The anticipated rate hike by the Federal Reserve will most likely put downward pressure on the market. It will not only make it more difficult for buyers to borrow for their home purchase, but it will also push up the cost of consumers’ existing revolving debt and adjustable rate mortgages.
Continue reading June 2017 San Diego County Real Estate Report and Interest RatesThe May 2017 San Diego County Real Estate Report shows continued gains, despite the ongoing supply shortage and slowly increasing mortgage rates. Those rising interest rates paired with increasing values are making San Diego County homes less affordable. Trump’s proposed tax plan could decrease affordability even more by removing important deductions for homeowners.