Activity is climbing as more people are doing what people do best: adapt.
Everything is about perception. While many look at the fact that we went from over 3,100 sales in April 2019 to 2,194 in April 2020 and panic over the prospect of a market crash, I see something else. We must understand that we’ve been in a lockdown—I’m actually surprised that April’s numbers were that high given the insane circumstances.
Things were so dire that the government had to flip the emergency switch and give trillions of dollars to American citizens and small businesses, yet homes in San Diego were still selling in the thousands. That testifies to a strong market!
Cited below for your convenience are timestamps that will direct you to various points in the video. Feel free to watch it in its entirety or use these timestamps to browse specific points at your leisure:
1:52 - Homeownership rates and economists’ projections for recovery
3:55 - Homes for sale: the latest numbers as of early May
4:21 - Putting March and April’s impacted performance into a greater context
6:15 - Analyzing supply, demand, and the number of showings
8:29 - So many people are losing their jobs—how could this not spell disaster for real estate?
9:53 - What these stats mean for our market going forward
If you have any questions about what was discussed in this message or if you’re interested in buying or selling a home soon but aren’t sure how to proceed in these times, reach out to me via phone or email. I’m always here to help, and I look forward to hearing from you.
