California Real Estate Blog
San Diego is the Second Hottest Market in the Nation
America’s Finest City is among the hottest real estate markets in the nation.Home prices in the San Diego metropolitan area were up 24.7 percent in a year as of May, the S&P CoreLogic Case-Shiller Indices reported. Phoenix was the only metro to have a faster gain at 25.9 percent.May was the highest annual increase in the index’s national [...]
Spare Room? Thousands of UCSD Students in Need
Thousands of UC San Diego students need a place to live, as nearly 3,200 people are on waiting lists as the campus grapples with more growth. Cody Huynh showed up at a condo in La Jolla recently hoping to find a place to rent after UC San Diego hit him with unexpected news — it had run [...]
San Diego Homes for Sale Inventory Increasing
There were more San Diego homes for sale in recent weeks. There were 970 new homes listed for sale in San Diego County from May 24 to June 20. That’s almost double the 450 to 500 new listings per month San Diego County was adding at the start of the year. Why the uptick in inventory? Real [...]
San Diego Homebuilding having a Strong 2021
San Diego homebuilders had one of their most productive quarters in years, with nearly 3,000 new homes constructed, but housing experts say it still doesn’t come close to what is needed. Construction of all residential housing — apartments, townhouses and single-family homes — was up 22 percent from the first quarter 2020 to the first quarter 2021, [...]
San Diego Home Prices Up nearly 20% in a Year
San Diego home prices increased 19.1 percent in a year as of March and outpaced nearly every city in the nation. Nationwide average price increases in the 20-city index were 13.2 percent as of March, the S&P CoreLogic Case-Shiller Indices reported. It was a rate of increase not seen since December 2005. Phoenix was the only metro [...]
Median SD County Home Now more than $825,000
The median price of an existing, single-family detached home in San Diego County rose to $825,120 in April, an increase from $800,000 a month ago, mirroring a spike across California that brought the state's median price above the $800,000 benchmark for the first time. San Diego County's median home price was $671,000 just one year ago. California's [...]
San Diego home prices increase fastest in 16 years
San Diego home prices increased at their fastest pace in nearly 16 years as of February and the metro area was among the strongest markets in the nation. Home prices in the San Diego metropolitan area are up 17 percent in a year, the S&P CoreLogic Case-Shiller Indices reported. The last time they went up that fast [...]
Fed Chair says Economy to Start Growing More Quickly
The US economy is turning the corner, thanks to government support and a turbo-charged campaign to vaccinate Americans against COVID-19, Federal Reserve Chair Jerome Powell said in a new interview. The chairman of the US Federal Reserve Bank said that the country's economic outlook has “brightened substantially," but warned that potential risks from the ongoing COVID-19 pandemic [...]
Big Hit to Second Home and Investment Mortgages
Fannie Mae announced that they are limiting new loans secured by second homes or investment properties to 7% of the overall loans they purchase (roughly HALF their historic levels!), effective April 1. What does this mean to borrowers seeking investment or 2nd home mortgages? Turns out, it means A LOT. Demand for second homes surged during the [...]
Despite Pandemic, San Diego Homebuilding was Up in 2020
San Diego County had the biggest increase in homebuilding in Southern California in 2020 during a pandemic that shuttered much of the economy. There were 9,486 homes constructed in 2020, up 18% from a dismal 2019, said the Real Estate Research Council of Southern California. It is still way off from the more than 17,000 homes built [...]
San Diego Home Prices End Year Up 13 Percent
San Diego home prices were up 13% in a year at the end of 2020 — the third fastest of any city in the nation. December home prices showed market conditions during the pandemic, that resulted in substantial gains, continued into the typically sluggish winter months, the S&P CoreLogic Case-Shiller Indices reported. The last time home prices [...]
San Diego Home Price Starts the Year at $640K
San Diego County started the year with a $640,000 median home price brought on by intense competition over limited home inventory. The January price represents a 9.4% increase in the last 12 months following major gains during the pandemic. It is down from the high of $650,000 reached in September to November last year. Experts continue to [...]