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Posts tagged ‘San Diego Real Estate Market’

18
Jul

San Diego Real Estate Market Observations

San Diego Real Estate Market Observations

In this video I give my observations and opinions on the San Diego real estate market in mid-July 2017. actually, these are just my personal opinions so before acting on any of the information  here I would advise talking with your accountant and financial advisor prior to making any real estate contractual commitments.

Well, with that said, I can say one thing for certain. That is this market does not look anything like the top of our San Diego real estate market did in the summer of 2005.

Driving the real estate frenzy that ended in the summer of 2005 was the ease of getting mortgages without stringent qualifications. in today’s San Diego real estate market home buyers really have to qualify to handle the mortgage payments. What’s really driving our current San Diego home price appreciation is the basic economic principle of supply and demand. Read more »

17
Jul

San Diego Residential Real Estate Market

San Diego Residential Real Estate Market

2017 San Diego real estate market forecastSan Diego County Residential Real Estate Market Analysis: 2nd Quarter 2017 ©2017

By Mark A. Melikian California Certified Residential Appraiser appraisals@san.rr.com P.O. Box 3051 Del Mar, California 92014 858-945-8996

The following is a market data summary of detached and attached properties as reported by the San Diego County MLS system. The data includes all zip codes in San Diego County. All projections discussed in this analysis will be updated throughout the year in subsequent quarterly reports.

Market Overview: The data provided analyzes residential real estate sales beginning in the year 2000, which is used as the base year. The number of sold listings in San Diego County peaked in 2003 at 42,746 units and decreased through 2008 to 23,972 units. Based on data from the first two quarters of 2017, the projected total number of units sold for the year will be 34,888, down from 36,236 sales in 2016 (see Figure 1). Read more »

17
Jun

Interest Rates Increase

Interest Rates Increase

3Br La Jolla Colony home rental Interest Rates Increase

For the second time this year the Federal Reserve Board has raised interest rates! it was March 15, 2017 that the Federal Reserve first raised interest rates this year. If you’d like to see that story on the first Federal Reserve rate increase, click this link: Fed raises interest rates

Although this was the second interest rate increase this year, it was also the third interest rate increase in the last six months! Read more »

8
May

California Home Hunting

California Home Hunting – The Millennial Home Buyer

This is a very humorous, and unfortunately very true ( especially here in California)   depiction of a young millennial trying to buy his first home.

I’m sure some might think this is true of our current housing market situation in California . . .  and it is!  but, the overpriced housing market in California has been around for decades!  what’s different now, is the fact that due to a shortage of available, and affordable homes in California the situation has been compounded in the last 2 to 3 years.

The last time I was working with a millennial couple looking for a two-bedroom condominium here in San Diego, it took over a year, and three different offers on properties, before we were able to close escrow on their first home.

Now, keep in mind that my first-time home buyer clients were well qualified for their price range, and with help from their folks were putting 20% down.  Yet it was very frustrating to find a decent property that did not have multiple offers on it within days of its original listing.

Read more »

1
May

Home Values Growth – Fastest Rate in Nearly Three Years

Home prices up at fastest rate in nearly three years!

2017 San Diego real estate - Home Values GrowthHome Values Growth – Case-Shiller index sees fastest growth since mid-2014.

In just one word, HOT, describes the US residential housing market right now!

Sure, there are many out there right now for forecasting the US housing bubble, or in the very least, a topping out for the momentum in the housing market. But, according to the latest S&P/Case-Shiller 20-city index report, it would seem that these negative forecasters are 180° off base! the latest S&P Case-Shiller 20 city index was up 5.7% when compared to the same time period last year. Read more »

23
Jan

San Diego Housing Market Analysis 4th Quarter 2016

San Diego Housing Market Analysis

San Diego home prices - San Diego County Residential Real Estate Market Analysis

©2016 By Mark A. Melikian California Certified Residential Appraiser appraisals@san.rr.com P.O. Box 3051 Del Mar, California 92014 858-945-8996

The following is a market data summary of detached and attached properties as reported by the San Diego County MLS system. The data includes all zip codes in San Diego County. All projections discussed in this analysis will be updated throughout the year in subsequent quarterly reports.

San Diego Housing Market Overview: The data provided analyzes residential real estate sales beginning in the year 2000, which is used as the base year. The number of sold listings in San Diego County peaked in 2003 at 42,746 units and decreased through 2008 to 23,972 units. In 2016, the total number of units sold for the year was 36,236, up from 35,232 sales in 2015 (see Figure 1).

 

san diego real estate market

Market Overview: The monthly absorption rate (number of units sold in a given month) will mirror the trend we see in the number of sold listings. The peak monthly absorption rate occurred in 2003 with 3,562 units selling per month. In 2008, the monthly absorption rate decreased to a low of 1,998 units. The 2016 monthly absorption rate was 3,020 units, up from 2,936 units in 2015 (see Figure 2). Read more »

31
Aug

Pending Home Sales Record

Pending Home Sales Record

San Diego home prices - Pending Home Sales Record

The National Association of Realtors just reported today, that pending home sales for July hit their second highest level in a decade!

The Associations pending home sales index increased 1.3% in July.  This level for the index puts it at 1.4% above year-ago levels and the second-strongest index reading since April!

The above index levels were based on a national basis, here in the West, the National Association of Realtors pending home sales Index reached the highest level in July it’s seen for the last three years! Read more »

29
Jul

San Diego Real Estate Market 2016

San Diego Real Estate Market 2016

San Diego County Residential Real Estate Market Analysis: 2nd Quarter 2016

©2016 By Mark A. Melikian California Certified Residential Appraiser appraisals@san.rr.com P.O. Box 3051 Del Mar, California 92014 858-793-9339

The following is a market data summary of detached and attached properties as reported by the San Diego County MLS system between January 1, 2016 and June 30, 2016. The data includes all zip codes in San Diego County. All projections discussed in this analysis will be updated throughout the year in subsequent quarterly reports.
Market Overview: The data provided analyzes residential real estate sales beginning in the year 2000, which is used as the base year. The number of sold listings in San Diego County peaked in 2003 at 42,746 units and decreased through 2008 to 23,972 units. In 2016, the projected total number of units sold for the year will be 35,648, up from 35,232 sales in 2015 (see figure 1).

San Diego real estate

Market Overview: The monthly absorption rate (number of units sold in a given month) will mirror the trend we see in the number of sold listings. The peak monthly absorption rate occurred in 2003 with 3,562 units selling per month. In 2008, the monthly absorption rate decreased to a low of 1,998 units. The 2016 projected monthly absorption rate will be 2,974 units, up from 2,936 units in 2015 (see figure 2). Read more »

1
Jun

San Diego Home Prices Increase

San Diego Home Prices Increase

The S&P case Shiller home price index was just released yesterday for March 2016. Here in San Diego home prices increase in March by 1% over February. Also, on a year-to-year basis, San Diego home prices increased 6.2%.

In the Los Angeles area the Case-Shiller report showed that home prices increased on a year over year basis by 6.5%. Further north, in San Francisco, home prices on a year-over-year basis in March increased by 8.5%. Lastly, east of us in Phoenix Arizona the Case-Shiller report showed on a year-over-year basis their home prices increased by 5.6%. Read more »

3
Nov

San Diego Residential Property Outlook

San Diego Residential Property Outlook

San Diego Residential Property OutlookSan Diego residential property and commercial property is uncertain as the Qualcomm layoffs approach.

Will the the mid-to high-end residential San Diego property be affected by the upcoming Qualcomm layoffs?

In just 17 days 1314 full-time high-paying San Diego jobs will be history. Yes, November 20, 2015 is the final day for the skilled high-paying jobs at Qualcomm. Read more »