California Real Estate Blog
San Diego Home Prices Increasing 3rd-fastest in Nation
San Diego home prices went up the third-fastest in the nation in August and appreciated at a pace not seen in more than two years. Prices in the San Diego metropolitan area were up 7.6%, the S&P CoreLogic Case-Shiller Indices reported. It was the fastest increase since April 2018 and the first time the region cracked the [...]
Downtown San Diego Construction Continues at a Rapid Pace
Logic dictates construction during a global pandemic would halt. But, the economic effects of Covid-19 are anything but logical. The transformation of downtown San Diego’s skyline has continued at a furious pace throughout the crisis, so much so that a visit to some parts can feel like you accidentally walked into a massive construction zone. There are 14 [...]
Fed Pledges to keep Interest Rates near Zero through 2023
The Federal Reserve committed to do more to help the US economic recovery, promising more asset purchases and lower interest rates for even longer than it previously expected. The Federal funds rate remained unchanged at zero to a quarter percentage point, and will stay there until America's labor market has recovered "consistent with the Committee's assessments of maximum [...]
San Diego Home Prices Rising 7th Fastest in the Nation
San Diego home prices continued to rise in the fourth month of the pandemic and outpaced all other California cities and much of the nation. With all the data now in, prices in the San Diego metropolitan area were up 5 percent in June, the S&P CoreLogic Case-Shiller Indices reported. That was more than the nationwide average [...]
30-Year Fixed Mortgage Rates From 1.99%
A leading national wholesale lender has rolled out a loan program that offers borrowers mortgage rates as low as 1.99% for both purchases and refinances. However, this rate isn’t for every borrower, or even the majority. Though the rate is legitimate, this is not a no-cost loan. When borrowers go to take out a mortgage, they pay [...]
San Diego rents down for the first time since Great Recession
Rent in San Diego County is down for the first time since the Great Recession as the region is rocked by Covid-19 related job losses. Average rent in San Diego County was about $1,850 a month in the second quarter, a small reduction of 0.3 percent annually, according to real estate tracker CoStar. It is notable because [...]
Home Prices Keep Rising as San Diego Outpaces rest of CA
San Diego home prices kept rising in the third month of the pandemic and grew at a faster pace than other California markets. As of May, prices in the San Diego metropolitan area had risen 5.2 percent in a year, the S&P CoreLogic Case-Shiller Indices reported. The county’s price gains have outpaced those of Los Angeles and [...]
San Diego County Property Valued at Record $604B
The value of land in San Diego has never been higher. San Diego County’s assessed value of all taxable property — including residential, commercial and industrial land — is now $604.75 billion, the Assessor’s Office said this week. It represents an increase of 5.18 percent from last year. The valuation date is set at Jan. 1 each [...]
Will San Diego see Covid-related Surge of Foreclosures?
The shadow of the Great Recession hangs over the coronavirus crisis and it is easy to see why many assume that Americans will start losing their homes again, especially considering record unemployment and a host of economic problems related to COVID-19. Housing analysts and economists largely agree though that it will be a long time before banks [...]
Tech Hubs like San Diego May Have the Housing Edge
Nationally, the overall housing market is inching towards recovery as buyer interest and home price growth surpass pre-COVID19 levels — but more ground left to cover as growth in new supply and the pace of sales still lagging. The overall recovery index is showing the greatest recovery in Denver, Boston, Seattle, San Francisco and San Diego, all [...]
Mortgage Rates Drop to New Low and bring out the Buyers
Mortgage interest rates have gone from astonishingly low to almost ridiculously low in a closely followed survey that's been tracking rates for almost half a century. The extremely low mortgage rates are pulling would-be homebuyers out of Covid-19 lockdown and into the housing market, in what mortgage giant Freddie Mac is calling a "remarkable turnaround" for mortgage [...]
Looking to Buy a San Diego Home during Covid? It’s Slim Pickings
A global pandemic has not stopped people from buying houses in San Diego, but it has reduced the number of properties available. There were 31 percent fewer homes for sale in San Diego County from April 6 to May 3, as skittish sellers took houses and condos off the market to wait out the COVID-19 crisis. Homes [...]