I recently appeared on the Real Estate Rundown program to discuss how our market fared in 2019.
I recently appeared on the Real Estate Rundown program to discuss how our market fared in 2019:
January to April was a little slow, but statistically, it frequently is. After people file their taxes, they begin thinking about buying a new home. The peak for buying homes is June through August, but we also see plenty of buyers in September. This is the same pattern each year.
However, from January to August 2019 we saw 2% to 3% fewer homes being sold when compared to 2018. Then in September, magic happened. Interest rates went down significantly, around 3%, and the market experienced a boost. We increased over 6% in the number of sales compared to 2018 in just the last few months of the year.
“The peak for buying homes is June through August.”
San Diego had a great year in 2019, and we expect it to be even better in 2020. However, one of the complaints about sales being lax for a while in San Diego was a lack of inventory. It’s all about supply and demand, so during the holiday season, homeowners don’t want to show their properties. They’re busy and want to enjoy their family time. During that time of year, we have fewer properties on the market.
Due to the interest rates being so low, now you have all kinds of future homeowners entering the market, especially younger couples looking into the prospect. It’s beautiful to see, for example, newlyweds purchasing a home right away instead of having to rent for a few years first.
If you have any questions about our 2019 market or real estate in general, please reach out to me via phone or email. I would love to help you.
