March 2017 Real Estate Update

March 2017 Real Estate Update

FED Raises Rates to Slow Down the Market

Things are a little confusing right now… the FED has raised interest rates with an intent to slow down the market, however all that this has done is push more people into hurrying up and buying (which is a smart move) which in turn has caused for our inventory levels to stay low. As you all know because I say it almost every week… Low Inventory + High Demand = Increase in Prices. This factor combined with tax returns and the spring selling season ahead of us, is a recipe for a strong growing market.

Here are some numbers to back that up: 
Closed Sales decreased 0.7% for Detached homes however Pending Sales increased 14.2% and the Inventory level decreased 24.3%. The Median Sales Price was up 5.6% to $559,500 for Detached homes and 7.8% to $378,750 for Attached homes. Days on Market decreased 2.3% for Detached homes and 22.0% for Attached homes. All these stats are pointing to a market not ready to slow down.

Article from San Diego Real Estate Today

Joseph Arendsen Headshot
Phone: 760-672-0174
Dated: March 9th 2017
Views: 226
About Joseph: Having been raised in North County San Diego, Joseph has a great wealth of experience and knowledge ...

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