Heading into fall, we have great news for San Diego homebuyers. According to data from CoreLogic, the median price for homes in San Diego County has dropped. This is something which hasn’t happened in 7 years. Last year at this time, the median cost of a San Diego home was $584,500. This year, it is $584,000. Even though that drop is small, we … [Read more...]
San Diego Home Prices Are Still on the Rise
The latest S&P CoreLogic Case-Shiller Index reveals that from April 2017 to April 2018, home prices throughout San Diego County increased an average of 7.8%. This is great news both for sellers and for buyers looking to invest. In all, the Index included data for 20 cities. Housing prices are increasing across the country, with the average … [Read more...]
Listen to Maureen Martin on Common Sense with Eran Sinai
If you follow along with Maureen Martin’s blog here at HomePlus Mortgage, you know that we have a seller’s market in San Diego right now. With construction slowing down, unemployment figures low, and high demand for affordable housing, sellers are able to command steep prices. While this puts sellers in a great position, it can be a complicated … [Read more...]
Sound of Spring in San Diego County
Home prices have been rising steadily since the recession, but the gains are suddenly accelerating as spring demand heats up in an already highly lean and competitive market. Prices surged 7 percent higher in March compared with a year ago, according to CoreLogic. That’s the biggest gain since May 2014. High Prices and Low Inventory Housing … [Read more...]
Push and Pull
The latest Case-Shiller report showed home prices are continuing to rise, but now experts say not only are those high prices here to stay, but homebuyers could be pummeled this spring by an increase in competition. As the hottest selling season in housing officially closes in, the typical twists and turns of the market during the seasonal … [Read more...]
Slippery Spring
U.S. home sales unexpectedly fell in January, leading to the biggest year-on-year decline in more than three years, as a persistent shortage of houses pushed up prices and kept first-time buyers out of the market. Uphill Battle for First Time Buyers The drive home is an uphill battle these days, especially for first-time homeowners who are … [Read more...]
Hammers and Nails
Buyer traffic is likely increasing so much because of the severe shortage of existing homes for sale. Realtors are reporting the lowest supply on record and are not expecting the situation to improve anytime soon. While housing starts did rise steadily throughout 2017, they did so very moderately and are still not close to historically normal … [Read more...]
Go Small or Go Home
Sales prices jumped 7 percent annually in November, according to a new report from CoreLogic. That is the third straight month at that pace, far higher than the price gains in the first half of 2017. Low supply and high demand are fueling the spurt and neither of those is expected to ease up anytime soon. With affordability constraints … [Read more...]
San Diego County Creates $25 Million Trust Fund for Affordable Housing
Several months ago, I posted about the California housing crisis. The demand for housing throughout the state has been increasing rapidly, but construction is not keeping up. As a result, prices are skyrocketing, and many people are unable to find affordable housing in metropolitan areas like San Diego. To add to the difficulties, there are … [Read more...]
Spring Buying Season is Sweet and Sour
The divide between the prices of homes Americans want to buy and the inventory of such homes is growing, suggesting first-time home buyers and high-end sellers might have a difficult year ahead of them. The result is likely to be swiftly rising prices at the low end and challenges for first-time buyers, and sluggish price increases and lingering … [Read more...]
