March 2018 San Diego Real Estate Update

March 2018 San Diego Real Estate Update

[March 2018] 

Spring is Here! San Diego is Blooming... 

and the Housing Market is BOOMING!!!


It’s finally Spring in San Diego! I don’t know about you, but this change has me saying “Hallelujah!” …With our days already longer, beach weather just around the corner & seeing all these beautiful flower fields here coming into full bloom… what’s not to love??

Unfortunately that question isn’t a rhetorical one to local real estate professionals here…

While living in San Diego has its many obvious perks, our housing market is still a bit of a problem patch... and concerns are mounting as we see this problem starting to grow like a weed...

The general consensus sounds like a broken record.. low inventory, fewer home sales and home prices still climbing. But that could all be changing here soon!! We have already started to see that much needed uptick in inventory, though we also saw mortgage rates increase last month (average rose to 4.5% for 30-year fixed, 20% down). With both factors now in play as we round the corner into spring and our "home buying season", we believe we will soon see a more stable market here soon. Here are the numbers seen last month..

Basically, this 'hot' sellers' market that has been stoking the fire under home buyers will likely cool to a simmer here soon.


Article courtesy of San Diego Real Estate Today


Joseph Arendsen Headshot
Author:
Phone: 760-672-0174
Dated: March 22nd 2018
Views: 116
About Joseph: Having been raised in North County San Diego, Joseph has a great wealth of experience and knowledge ...

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