I’m often asked “How is the Real Estate Market?” The short answer is that it is definitely getting better! Although the property values have been declining in San Diego since the second quarter of 2005, the market direction may be shifting.
How is the Real Estate Market?
Real Estate Market Facts:
- Inventory of homes for sale is at one of the lowest, since the downturn.
- In some price ranges, (the lower end), multiple offers are common place.
- The higher end market is still under some pressure. However that market is also experiencing improvements as evident in recent activity in Olivenhain.
- With interest rates still at historic lows, many buyers are finding that this may be the perfect time to enter the market.
- Perhaps the most important change is the change in the psychology of many buyers who have been on the sidelines and now more and more are convinced that the time to take advantage of low prices and low interest rates may be now.
- Double digit appreciation may be a thing of past, but most experts do see an uptick in home prices locally and nationally.