San Diego Real Estate Voice : What's Important to Know About the San Diego Housing Markets

What's Important to Know About the San Diego Housing Markets

What's Important to Know About the San Diego Housing Markets

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I think as consumers that much of your interest seems to be about what is happening to housing prices. We see reports where May prices dropped after increasing well over 4% in months prior. 

Then we read in the local paper that prices are continually rising and exceeding the highest prices set at the peak of the market escalation in 2006 and 2007, just prior to the market crash.

How can both of these things be true at the same time? It depends on what you read and exactly what part of the market the report applies to. Prices have been going up for quite some time and occasionally corrected in other months and the market seems to be continuing the trend. But I would put this caution out there. As was proved so many times before, real estate markets are cyclical and prices rise and fall with general trends over the decades with overall sustained increasing values. To understand that, are housing prices higher today than they were in 2005. Were 2005 prices higher than in 1995 and those numbers higher than 1985? Yes. Cyclical but ever increasing over time. Will that always be true? No one can answer that and your guess is as good as any one elses.

There has been a lot of discussion about the Fed raising rates this year and the likelihood that home prices will go down because of it. Isn't this just speculation for the stock market? The Fed doesn't set market interest rates for mortgages, they set short term and overnight interest rates for banks. And while it was usual for Bond prices and the stock market to move in different directions, this year they are moving in the same direction at about the same pace. In other words, things change and we are seeing that as the housing market continues to out perform the best of guesses.

Here is what I suggest if you are a Seller and planning on putting your home on the market. Put your trust in a good real estate professional and talk about what is happening in your immediate local neighborhood market. That is the part of the market that should be most relevant to your questions about market conditions and pricing.

I specialize in the San Diego market, specifically the I-15 Corridor and all the communities that border it to the South to Balboa Park and North to San Marcos. Within this area of the county, there is little consistency or the exact same patterns in these bordering communities. Each community has it's own mini market and the characteristics change from market to market and also seasonally. 

 

 

If you are BuyingSelling or Relocating to San Diego and  need help from a professional REALTOR®, give me a call or visit my San Diego Real Estate website and 
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Comment balloon 6 commentsWilliam Johnson • July 28 2015 09:59PM

Comments

Good evening William Johnson ,

Real Estate is local and your advice to talk with a real estate professional in your immediate area is the key to knowing what to expect if wanting to sell your home or purchase one. You are right..each community has it's own mini market and the characteristics change from market to market and also seasonally. 

Posted by Dorie Dillard CRS GRI ABR, Serving Buyers & Sellers in NW Austin Real Estate (Coldwell Banker United Realtors® ~ 512.750.6899) over 4 years ago

That's kind of the thing about market reports, William.  It is how the data is filtered, that determines the outcome of some of these reports. 

We currently have the lowest unemployment rate than we have experienced in 40 years.  Granted many are underemployed, but I still believe we are steadily recovering from the housing crash of 2007. 

And, because there is far more cash in the market and seen in sales, I think this market is much more sustainable than it was in the days of liar loans, that led up to the crash 7 to 8 years ago!

Posted by Myrl Jeffcoat, Greater Sacramento Real Estate Agent (GreatWest Realty) over 4 years ago

William the consumer as well as the person who watches the Economic Indicators are so Headline Oriented that they could be making some tragic mistakes...best advice is to listen to those who are in the trenches....Endre

Posted by Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002 (Berkshire Hathaway HomeServices) over 4 years ago

William, these mini-markets you refer to require the services of a true professional. Enjoy your day!

Posted by Wayne Martin, Real Estate Broker - Retired (Wayne M Martin) over 4 years ago

Hey William you make a very solid and sound point to not look at todays market but an overall picture of a much grander presentation to understand what goes on in CA and you are right held long enough (even in bad times) you are going to make money out there!

Posted by David Shamansky, Creative, Aggressive & 560 FICO - OK, Colorado Mtg (US Mortgages - David Shamansky) over 4 years ago

This is good reading for prospective home buyers and home sellers. They will be in good hands when they use your professional real estate services.

Posted by Roy Kelley (Realty Group Referrals) over 4 years ago

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