California Real Estate Blog
San Diego Home Prices have Biggest Gain in 6 Years
San Diego home prices continued their climb in October, rising 11.6% — the highest in more than six years. Prices in America’s Finest City increased the third-fastest annually in the nation, the S&P CoreLogic Case-Shiller Indices reported. Only Phoenix, up 12.7%, and Seattle, up 11.7%, had bigger gains. The last time prices in the San Diego metropolitan [...]
Happy Holidays Everyone!
May the joy of this holiday season fill your hearts with love and your homes with peace, warmth and happiness. Happy Holidays & Merry Christmas! All the Best, Gregg Watkins Watkins Realty Group
Southern California Home Prices Rise Nearly 11%
The Southern California median home price rose by double digits for the fourth consecutive month, underscoring strong demand for housing during the Covid-19 pandemic. The six-county region’s median price was $603,000 in November, a 10.8% increase from a year earlier, according to data released by DQNews. Sales rose 18.9% from November 2019. Experts say the upswing in recent [...]
San Diego Unemployment Dropped to 7.7% in October
San Diego County’s unemployment rate hit its lowest since the pandemic began — 7.7 percent — in October. However, the numbers are from before the region went back into the state’s restrictive COVID purple tier, which meant many businesses had to scale back workforces and possibly cut employees. October marked five consecutive months of reduced jobless claims. In [...]
Mortgage Forbearances Down Slightly, led by Fannie and Freddie
The U.S. forbearance rate measuring the share of mortgages with suspended payments fell slightly to 5.9%, according to the Mortgage Bankers Association. Though the rate fell 2 basis points, the decline has begun to slow after two weeks of what MBA’s chief economist Mike Fratantoni called “a flurry of borrowers” exiting as they reached the six-month mark. The [...]
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 [...]