TAG | foreclosures

Calm Before the Storm ?

November 2018 – San Diego Real Estate Update

As we settle down into the final weeks of 2018, we can see a period of relative calm ahead for our local housing market. Long gone are the consumer cries for housing bubbles as we have turned the corner into a trend of market balance to wrap up this year.
 
While prices are still rising in most areas, the number of homes for sale are still low however there is a general shrinking in the percentage gaps for year-over-year comparisons in sales, inventory and prices for San Diego county. This is exceptional news for not only our local real estate market, but our nation’s economy and a promising start to 2019.
 

While our stock markets experienced an October setback, that does not necessarily translate to a decline in the real estate market. Actually, our national unemployment rate has been below 4.0 percent for three straight months and during five of the last six months. This is exceptional news for  real estate. Meanwhile, home-builder confidence remains positive, home-ownership rates have increased in the key under-35 buyer group and prices, though still rising, have tapered their incline to more healthy margins. All-in-all, a look at today’s housing market doesn’t forecast an imminent housing crash as many consumers fear, but instead shows a hopeful future.

Here’s what we’re seeing this month:

Buyers Advice: 
Are you one of the many saying now is not a good time to buy? While it may feel safe to be a sheep, here’s why you’re wrong – currently the market has more sellers and not enough buyers.. this means you are in a PRIME buying position! Options and less competition. Just like our seasoned investors do every year, use this ‘slower’ season to your advantage and get out there… you could potentially land yourself a killer deal!
 
Sellers Advice: ​​​​​​​
Remember to keep things in perspective – yes, shifts are happening and there’s some more competition on market, but homes are STILL selling for record-high sales prices! If you are thinking of selling at some point, keep in mind timing is everything! Our housing market is headed for a stability shift, but right now prices are still increasing! If you have the right agent prepping and marketing your home to be that ‘next-to-sell’, you STILL have the opportunity to sell your housing investment for the highest possible return, ever! How much could you make??
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