Our San Diego County market is still strong, and now is a great time to buy.
Amid the COVID-19 lockdown, today’s market update is a message of positivity.
I first want to say that my family and I are alive, have a roof under our heads, and have food in the refrigerator. Therefore, I consider us blessed. There are a lot of people who are worse off than we are, but we’re all in this together.
Things are changing quite quickly in our San Diego County market, but from April 16 to April 23, there were 549 homes pending and 656 active listings, which tells us that our market is still strong.
At 3:09 in the video above, you can see a ShowingTime graph depicting the impact COVID-19 has had on home showings in California. On March 5, showings were up 32% compared to the same time in 2019. Then the pandemic hit, and by March 25, showings had plummeted 65.7%. From March 28 to April 22, though, they increased by 35%.
“If you still have a job and were thinking of buying before the pandemic hit, make your purchase.”
With home showings increasing as drastically as they are, that’s a good sign, and with interest rates still low (3% to 3.25%), there’s a short window of opportunity to buy now. If you still have a job and were thinking of buying before the pandemic hit, make your purchase. Don’t think about what may or may not happen in the future.
Here in California, we’re similarly blessed as far as the health of our real estate market goes, and there are still a lot of job opportunities out there. As soon as the lock down is lifted, it will still take a month or two for everyone to recuperate mentally and many former employees to get rehired by their former employers.
So to reiterate, the time to buy is now.
If you have questions about our San Diego County market or there’s anything I can assist you with, don’t hesitate to reach out to me. I’m here to help.
