Population: 3,338,330 (latest estimate by the U.S. Census Bureau). (Scott's Note: These are even more *real* as I type this in November and shows the trends I am seeing are dead on.). San Diego’s Real Estate Forecast is Rosy. Leave your comments below - or, text/call me at (760) 297-4539. December is days away, and before long we'll be tacking up our 2021 calendars. 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%. }, San Diego, California | Real Estate Market Trends October 2020 But it has not ground to a halt the way some expected it to. "addressRegion": "CA", Whether you are moving to Vegas or already residing there, you may be mixed in with the California mass exodus. If you missed it - you can see my San Diego mortgage trends here. Housing Market Crash 2021: The housing reports are comprehensive assessments and predictions of US Housing markets drawing insight from NAR, CAR, Corelogic, Wall Street Journal, Freddie Mac, tradingeconomics, statista, and more industry sources. Current real estate conditions in the area are much different than they were during the last housing downturn of 2008. If you are finding value from this video, I would really appreciate if you could smash that like button, subscribe to get more hard hitting videos just like this, and tap that notification bell so you know when a new video comes out. San Diego’s reputation as a relatively cool market compared to the rest of California makes buying an investment property a simpler process for real estate investors here. "@type": "GeoCoordinates", Related: Things could heat up this summer. Las Vegas real estate is significantly cheaper than California real estate. "addressCountry": "USA" "address": { By clicking “Send” I/We agree by electronic signature as stated below: 1) To be contacted by telephone even if the telephone number appears on a State/National Do Not Call registry or any company’s Do Not Contact lists. 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. According to the U.S. Census Bureau, the city’s population grew by 9.4% from 2010 to 2019. He specializes in creative financing, locating undervalued real estate for buyers, and getting sellers more money for their homes in less time with less stress and hassle. What are the San Diego real estate market predictions for 2021? 210 Housing predictions are the equivalent of an educated guess and should be treated as such. With its beautiful beaches, pleasant year-round weather, and plentiful outdoor attractions, the San Diego area continues to attract new residents from elsewhere in the country. 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. 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. "telephone": "+1 (760) 297-4539", According to Zillow, a real estate database company, the median home price in San Francisco has been pretty much flat since Aug 2018. Homes in San Diego receive 5 offers on average and sell in around 14 days. Record low mortgage rates. As of July 2019, the median home value in San Diego was around $635,000. 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. Home values in the area might beat their prediction by avoiding any kind of decline. "description": "Scott Taylor is a licensed mortgage loan originator, real estate agent, and full time investor in San Diego.\n\nHe specializes in creative financing, locating undervalued real estate for buyers, and getting sellers more money for their homes in less time with less stress and hassle.\n\nHe bought his first investment property at the age of 21, became licensed at 22, and a broker at 24. Mix in the lock downs, and low rates, I expect inventory to only stay incredibly low. "longitude": "-117.162622" Here’s an easy to understand Forecast of San Diego’s real estate future. There are 5,371 homes for sale in San Diego with a median price of $687,071, which is an increase of 8.1% since last year. A recent forecast for the San Diego housing market predicted that home prices could level off through the rest of 2020 and into 2021. A lower rate, means people can afford more. 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! "@type": "PostalAddress", Experts believe 2020 will be a quiet year, with some suggesting a recession. Courtesy Allen Matkins/UCLA Anderson Forecast. As it pertains to the San Diego real estate forecast for 2020, the present prediction is that it will be a neutral market. Call SDAR at (858) 715-8000 for more information. Walnut Creek, California 94596, Veterans and active US military may be eligible for a $0 down VA loan. Granted, some of those jobs will come back as the state continues its multi-stage reopening plan. According to data reported recently by the national real estate brokerage Redfin, the number of homes for sale in San Diego Country dropped by 31% from April 6 to May 3. Population growth in general tends to bring more buyers into the markets and puts upward pressure on home values. Check out the latest US stats, and discover when you should buy or sell. var rg = document.createElement('script'); rg.type = 'text/javascript'; rg.async = true; Keep in mind - if we look at just a principal and interest payment. The 2020 figure is 4.5 percent lower compared with the pace of 397,960 homes sold in 2019. This is something that to my knowledge has never happened before. Elections. There is also a serious supply-and-demand imbalance that continues to put upward pressure on home prices across Southern California. 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. So it will probably fare better than it did during the last downturn. You might agree, disagree, or have different takes. The San Diego real estate market was experiencing a supply shortage before the pandemic occurred. Secondly, the entire real estate industry has adapted in a way that allows transactions to continue while safeguarding public health. Now, supply conditions are even more constrained across the metro area. It’s clearly moving at a slower pace than it was before the crisis began. "streetAddress": "302 Washington Street, Suite 150-9487", Due to Covid 19, lock downs, record unemployment (see trend #1), banks are allowing home owners to *not* make mortgage payments and instead tack those missed payments onto the end of the loan. Mix that in with riots and protests and it's been interesting. 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. 5 Reasons it Wont Crash, Revealed: 5 Reasons to Not Use Quicken Loans San Diego, (Controversial Post) 5 Reasons to Move to San Diego, Zillow San Diego: 5 Lies, Fraudulent and Deceitful Tactics Used, 5 Tips for Using Airbnb San Diego to Maximize Your Rental Returns, 5 San Diego Real Estate Market Trends I Am Seeing in December 2020, subscribe to get more hard hitting videos just like this, San Diego Housing Predictions 2020 | 2021, San Diego Real Estate and Mortgage Videos 2020 | 2021, San Diego Real Estate Market Statistics 2020 | 2021, San Diego Real Estate Market Updates 2020 | 2021, San Diego Real Estate Market: News, Trends, Forecasts 2020 | 2021, 5 Reasons Santee San Diego is a Great Place to Live in 2020 | 2021, San Diego's 10 "Must Know" Real Estate Negotiation Tips 2020 | 2021, San Diego Self Directed IRA LLC With Checkbook Control For Real Estate Investing 2020 | 2021, 7 Creative Ways to Slash Your San Diego Mortgage Payment (2020 | 2021 Update), 6 Reasons Logan Heights San Diego Is a Great Place to Live in 2020 | 2021, 6 Secrets Revealed When Buying a San Diego Home With Low Income (2020 | 2021 Update), 8 Tips For Being A Successful San Diego Landlord (2020 | 2021 Update), 8 Hacks on Drastically Improving Your Credit Score Fast (2020 | 2021 Update), 3 Reasons Carmel Mountain Ranch San Diego Is a Great Place to Live in 2020 | 2021. }, 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. But it will take some time for the local economy to get back to something resembling normal. San Diego real estate news covering the local real estate market. That’s partly the result of sellers taking their homes off the market in response to the COVID-19 crisis. A building under construction in San Diego. The San Diego housing market is very competitive. The same is true for a lot of cities across the country right now. setTimeout(function() {document.querySelectorAll('.rg-valuation-root iframe').forEach(function(elem) { elem.src = 'https://sandiegorealestatehunter.com/cma/property-valuation/widget/?background_color=%23FFFFFF&button_background_color=%23b40101';})}, 1000); "@type": "RealEstateAgent", Home prices in the San Diego metropolitan area had risen 5.2 percent in a year … the highest annual increase since last summer. "hasMap": "https://goo.gl/maps/FcbVQm6pnu2uRCuP9", "geo": { Now, supply conditions are even more constrained across the metro area. 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. Let us look at the price trends recorded by Zillow (a real estate database company) over the past few years. Given all of these trends, Zillow’s forecast for the San Diego real estate market might be erring on the conservative side. Market uncertainty with World events such as: it being an election year and it might be 4 more years with Donald Trump or someone new, largest unemployment rates in US/California/San Diego history, Covid 19 leading to major shutdowns, schools closings, etc. That’s because of a sharp rise in unemployment, stemming from the coronavirus pandemic. Scott Taylor is a licensed mortgage loan originator, real estate agent, and full time investor in San Diego. In early June 2020, Zillow’s researchers wrote: “San Diego home values have gone up 6.0% over the past year and Zillow predicts they will fall -0.8% within the next year.”. Almost all of that can be attributed to the COVID-19 situation in some way. However, with a growing economy and an increasing number of homes for sale, it could be a great window of opportunity for home buyers ready to purchase a property. Lowest San Diego real estate inventory ever recorded. SAN DIEGO (KGTV) -- Despite a cooling trend, San Diego is expected to be California’s hottest housing market in 2020, according to a new Zillow report. This is causing fewer home owners to sell, stay put, and leads to fewer homes for sale. There are a couple of reasons for this. For one thing, mortgage rates continue to hover at historically low levels. San Diego Real Estate Industry Still Going Amid Coronavirus Pandemic Brokers are still busy showing homes By Derek Togerson • Published March 19, 2020 • Updated on March 19, 2020 … 877 Ygnacio Valley Road What are the San Francisco real estate market predictions for 2020? And some forecasters don’t see it rising much further than that anytime soon. It's interesting to see how numbers can be easily adjusted by interest rates going up or down. "name": "San Diego Real Estate Hunter", That was quite a bit higher than the 6% national growth rate over the same timeframe. The population for the city of San Diego is currently around 1.4 million. Median Household Income: $74,855 (latest … 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. [CDATA[ Zillow Market Pulse: November 20, 2020 By Matthew Speakman on Nov. 20, 2020 Editor’s Note: Because of the Thanksgiving holiday, our regular Market … As of July 2019, the median home value in San Diego was around $635,000. The bottom line here is that the real estate market forecast for San Diego is not that bad, considering the circumstances. This housing supply overview shows that homes priced between $1.25 million and $2 million has strongest pending sales, and homes between 4000 to 6000 square feet had the strongest pending sales. Everyone has a different standpoint depending on different life factors. (function() { "latitude": "32.750279", San Diego County Real Estate Market Report | October 2020 Published on Nov 2, 2020 The First Team Real Estate San Diego County Market Update is a must-read for all homebuyers and sellers. That brings us up to the present. According to Redfin, the metro area had about a two-month supply of homes for sale as of April 2020. The average sale price per square foot in San Diego … See more real estate market trends for San Diego. Check the San Diego housing market, including home prices and housing development. San Diego Real Estate Market Forecast For 2020 | 2021 (Trending) Most home sales experts are predicting a slump in San Diego home sales in 2020. Our mortgage advisors are standing by. But given the current supply and demand situation in the area, a significant home-price decline seems unlikely. 2) To this website’s Privacy Policy and Terms of Use. Californias economy grew 4.7% in the 12 months ended in February compared to the national rate of 2.8%. 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. "postalCode": "92103", San Diego Real Estate Market 2020 Overview. The San Diego Association of REALTORS® is the trusted voice of San Diego Real Estate. So from an inventory standpoint, it’s still a seller’s market and probably will be for a while. Back in its peak of 2007 or 2008 we had around 30,000 homes for sale in San Diego - as I film this - we have around 4,000 homes/townhomes/condos/multi family units. 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. "image": "https://t3.realgeeks.media/thumbnail/W6EC-AGWRH8xS0n38JydksHkI6k=/fit-in/200x43/filters:format(png)/https://u.realgeeks.media/sandiegorealestatehunter/SDREH_-_Dark_Logo.png", The San Diego real estate market was experiencing a supply shortage before the pandemic occurred. "url": "https://www.sandiegorealestatehunter.com/", rg.src = 'https://widgets.realgeeks.com/static/js/valuation_v4.min.js'; In tonight"s housing market 2020 forecast real estate report, I will be going over Las Vegas, San Diego, & Orlando. 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. ", According to Craig Lazzara, a managing director at S&P Dow Jones Indices, “housing prices continue to be remarkably stable.”. Disclaimer: This article includes projections and forecasts relating to the San Diego real estate market in 2020 and 2021. In June, the housing research team at Zillow predicted that home prices in San Diego would essentially flatten through the rest of this year and into 2021. Others believe it’s just a lull before the US economy takes off again in 2021. That brings us up to the present. "openingHours": "Mo, Tu, We, Th, Fr 8 AM to 5 PM, Sa, Su Closed" Looking forward, they predict that prices will dip slightly over the next year or so. That…, A recent forecast for the Oakland, California real estate market in 2021 suggests that home…, Forecasts for the East Bay housing market in 2021 suggest we could see more of…. He bought his first investment property at the age of 21, became licensed at 22, and a broker at 24. No doubt fewer people will be selling this year around October to December than ever before. The San Diego County fall market is unusually hot and this winter will be too. By their estimation, the median home value rose by 6% over the past year. Begin your home loan process today! Time will tell. … (not applicable for refinances), Use the slider to select the price range of homes you're interested in But when you look at the current supply-and-demand situation within the San Diego housing market, a predictions could also be made that home prices will hold up through 2020. "logo": "https://t3.realgeeks.media/thumbnail/W6EC-AGWRH8xS0n38JydksHkI6k=/fit-in/200x43/filters:format(png)/https://u.realgeeks.media/sandiegorealestatehunter/SDREH_-_Dark_Logo.png", But since then, home-buying activity in San Diego and statewide has increased quite a bit. These population trends play into the recent forecasts for the San Diego housing market. "addressLocality": "San Diego", Despite the government-imposed restrictions and economic slowdown, the real estate market continues to march on. And, here's the latest lender owned report showing the bank owns at the lowest levels in 8 years. var s = document.getElementsByTagName('script')[0]; s.parentNode.insertBefore(rg, s); 5 San Diego Real Estate Market Trends I Am Seeing in November 2020 Including - Lowest Inventories on Record, Highest Unemployment in History, People Staying in Homes Longer, Low Mortgage Rates Leading to Higher Prices, and More! })(); 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, //
2020 san diego real estate market forecast 2020