San Diego Existing Home Sales jump

San Diego Existing Home Sales

San Diego County detached home sales for January 2017 where the highest since 2013! When compared to January 2016, the San Diego County detached home sales  were up just slightly by 49 homes.

The real big news for existing home sales in January was that on a nationwide basis, they hit a 10 year high!

The National Association of Realtors (N.A.R.) reported this week that existing home sales jumped 3.3 percent to a seasonally adjusted annual rate of 5.69 million units last month. That was the highest level since February 2007!

Not only in San Diego, but for most of the major regional metropolitan areas, there’s been a persistent shortage of available homes for sale. It is this lack of housing inventory that many in the real estate industry believe is the major cause of the escalating home prices even in the face of increasing mortgage rates. Read more