For example, Zillow’s current long-range forecast for the San Diego real estate market predicts that prices will level off over the coming months. For example, Zillow’s current long-range forecast for the San Diego real estate market predicts that prices will level off over the coming months. It's interesting to see how numbers can be easily adjusted by interest rates going up or down. Check out the latest US stats, and discover when you should buy or sell. So it will probably fare better than it did during the last downturn. A recent forecast for the San Diego housing market predicted that home prices could level off through the rest of 2020 and into 2021. "geo": { This is causing fewer home owners to sell, stay put, and leads to fewer homes for sale. "@type": "PostalAddress", Bridgepoint Funding specializes in residential mortgages and serves borrowers and real estate agents throughout the entire state of California. The broader metropolitan area, which includes Carlsbad and San Marcos, is now home to roughly 3.4 million people. I want to be very clear - I call things as I see them from over 20 years doing real estate, loans, and investing, not only in San Diego, but overseas as well. (not applicable for refinances), Use the slider to select the price range of homes you're interested in In April, the housing market in San Diego (and much of California) slowed to a crawl as the coronavirus pandemic brought stay-at-home orders and quarantine protocols. Keep in mind - if we look at just a principal and interest payment. The San Diego real estate market was experiencing a supply shortage before the pandemic occurred. Here’s an easy to understand Forecast of San Diego’s real estate future. "name": "San Diego Real Estate Hunter", Now that we covered the San Diego housing market 2020 trends and forecast, investors must be wondering about where to invest in real estate in San Diego. That was quite a bit higher than the 6% national growth rate over the same timeframe. That’s because of a sharp rise in unemployment, stemming from the coronavirus pandemic. That brings us up to the present. In this video I want to break down the 5 San Diego real estate trends I am seeing on the ground with my clients as I film this in mid-July 2020. San Diego Housing Forecast for 2020 – 2021: Better Than Expected, A Look Ahead: 5 Bay Area Housing Market Predictions for 2021, Oakland Real Estate Outlook for 2021: Competition High Among Buyers, Outlook: East Bay Housing Market Will Remain Competitive in 2021. Time will tell. "logo": "https://t3.realgeeks.media/thumbnail/W6EC-AGWRH8xS0n38JydksHkI6k=/fit-in/200x43/filters:format(png)/https://u.realgeeks.media/sandiegorealestatehunter/SDREH_-_Dark_Logo.png", }, San Diego Housing Bubble? The homeownership rate in San Diego County has historically been comparable to the rest of the state, just slightly above the state average as of Q2 2020, at 56.5%. To quote the Tribune article: San Diego County not only saw prices increase in March during the first month of the COVID-19 pandemic, it outpaced all markets in California. San Diego, CA is a seller's market in September 2020, which means that there are more people looking to buy than there are homes available. He bought his first investment property at the age of 21, became licensed at 22, and a broker at 24. Looking forward, they predict that prices will dip slightly over the next year or so. Mix that in with riots and protests and it's been interesting. Californias economy grew 4.7% in the 12 months ended in February compared to the national rate of 2.8%. San Diego Real Estate Market 2020 Overview. But given the current supply and demand situation in the area, a significant home-price decline seems unlikely. According to a May 26 article from The San Diego Union Tribune, this housing market led the state in terms of year-over-year home value appreciation. According to the state of California’s Employment Development Department, the unemployment rate for San Diego County rose from 4.2% in March of this year to 15% in April. Check the San Diego housing market, including home prices and housing development. … Almost all of that can be attributed to the COVID-19 situation in some way. Everyone has a different standpoint depending on different life factors. But it has not ground to a halt the way some expected it to. "addressRegion": "CA", If you have a $300,000 house at 6% - that's the same principal and interest as a $600,000 house at 3% = $1800 a month. The San Diego housing market is very competitive. According to the latest San Diego real estate market update for October 2020, inventory dropped 32% since this time last year, and median sale prices have increased over 10% in the same period! Our mortgage advisors are standing by. No doubt fewer people will be selling this year around October to December than ever before. San Diego Real Estate Market Forecast 2021. Walnut Creek, California 94596, Veterans and active US military may be eligible for a $0 down VA loan. Its summer now, traditionally the lowest inventory and most sales of the year, and we have something new in that kids are *not* going back to school for fall semester, at a minimum. In fact, many housing analysts and economists are now saying that the housing market could help pull the broader economy out of the doldrums, through the latter part of 2020 and into 2021. (function() { In tonight"s housing market 2020 forecast real estate report, I will be going over Las Vegas, San Diego, & Orlando. As previously mentioned, buying real estate investments in the best neighborhoods will get you a higher ROI in terms of rental income and cash on cash return. "latitude": "32.750279", The same is true for a lot of cities across the country right now. })(); var clicky_site_ids = clicky_site_ids || []; clicky_site_ids.push(100907214); Scott TaylorReal Estate/Mortgage Loan OriginatorPacific Home BrokersCA DRE #01362400NMLS #1266710, San Diego Real Estate Hunter302 Washington StreetSuite 150-9487San Diego, CA 92103Call or Text (760) 297-4539, //

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