Your June 2018 Real Estate Market Update

Home prices are increasing, but inventory is shrinking in our San Diego market. If you are a buyer, buy now—do not wait any longer. Want to Buy a Home? Search All Homes Want to Sell a Home? Get a Home Value Report Ok, so we’re halfway through 2018... so what’s happening in the market today? 1. New homes coming on the market are up about 4% , which is great for buyers but still lower than we would like. 2. Homes entering escrow are about the same —again, everything sells in San Diego. 3. Home prices have increased 6% - 8% depending on where you live in San Diego County, which is exactly what I said a year ago. And for you renters, if you were looking to buy a $500,000 house last year and decided to wait, you just lost $40,000 in equity. “ Stop waiting to buy—there is not going to be any major crash. ” 4. Total homes for sale is down about 2% —inventory is continuing to shrink and the number of days a home is on the market is continuing to shrink as well. This is great for sellers, but tough on buyers, but if you have a good agent/broker who can package your offer correctly, you will get a house. 5. Most activity seems to be with the move-up sellers and buyers —lots of activity for smaller homes/condos/townhomes and less competition for more expensive property. So don’t waste any more time—move up. And you renters out there, stop missing out on $40,000 a year. Call me and I will help you. It’s what I do. If you have any more questions about our market or you have any real estate needs at all, please reach out to me. I look forward to speaking with you. **A broker is licensed to render real estate advice. If you desire tax, legal or lending advice, consult the appropriate professional. Videos and marketing by Broker are intended to help educate the public. Laws and real estate practices may change at anytime. All information deemed reliable but is not guaranteed and determined on a case-by- case basis. If your property is listed, please disregard as it is not our intention to solicit. We cooperate fully with other brokers. Equal Housing Opportunity and member of the National Association of Realtors.

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Your June 2018 Real Estate Market Update is an episode from San Diego Real Estate Podcast with Dale Downing by Dale Downing.

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This episode was published on Jul 13, 2018.

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