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September 2018: San Diego Real Estate Update

Mind the Gap [in Affordability!]

We’ve been watching all market factors very closely – with all factors in consideration, we determine there to be a plateau in our market today.  Watch quick video here:

The main reason is e assess that is really the affordability aspect, in particular the national income level. Over the last year, household income only rose about 2.8% annually. Now we this we’ve had rising housing prices, interest rates up AND building costs increase.. these rising costs on a national level have far outpaced our income averages. What does this mean?

Well this is what many refer to as the ‘gap’ in affordability. Now here we have hit that ceiling on national average levels of affordability. 

 

Here’s the stats we are looking at:

Buyer Advice:

Finally, there are options!! Actually a great time to be a buyer.  Remember last year, there was so much competition you LITERALLY had no options.. look at the market today, you appreciate how much more opportunity awaits for buyers today!

Start your search Today!

Seller Advice:

For sellers, what it comes down to is pricing to the current market, preparing the property and marketing properly in order to be that ‘next-to-sell’ home. There are still homes selling fast & for record breaking prices – does your home have what it takes?

Ask for your FREE consultation today!

 

 

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