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 March 2018 San Diego Housing Market Report shows February picking up steam. Job growth in San Diego County is strong, and incomes are expected to grow. This along with a lack of homes available for purchase, both new and resale, continues to fuel price increases. Interest rates are rising though, and this limits buyers’ ability to qualify. This is expected to slow down home appreciation in 2018.
Continue reading March 2018 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 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 San Diego and North County real estate markets remain strong with good appreciation and short market times. Inventory is still at its lowest point since 2004. Despite the lack for homes available to purchase, March saw an increase in the number of homes that went under contract in both markets.
The San Diego County and North County real estate markets are still sizzling hot. But due to rising interest rates and low affordability, experts are predicting a slowdown in both value growth and home ownership rates. Clear Capital predicts appreciation in San Diego County to be a low as 0.9 percent in 2017.
Interest rates continued to increase, but the San Diego County and North County markets didn’t seem to care. San Diego edged up to number five on the hottest U.S. markets list from realtor.com® last month.