San Diego Real Estate Newsletter – May 2017

April 30, 2017

New Listing – Carlsbad

Home For Sale - Carlsbad, CA
Home For Sale – Carlsbad, CA

IMMACULATE, Turn Key Carlsbad home. Five bedrooms, four and one half bath with 3,725 sq.ft. Home includes custom kitchen, upgraded cabinetry, canned lighting, large great room with ample sunlight and gas fireplace.

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County median price $515,000

The San Diego Union-Tribune states, ” San Diego County median home price reached $515,000 in March, its highest point in a decade and a 7.7 percent increase in a year,” as reported by CoreLogic. The highest median price reported in San Diego County was $517,500 in 2005 before the real estate collapse.

April 26, 2017

Buyer frustration drops demand in U.S.

CNBC’s Diana Olick reports that, “It may be the strongest seller’s market ever, but buyer frustration is now taking its toll. Some would-be shoppers are even choosing to sit the spring market out. Demand from homebuyers fell 14 percent in March from February…”

Best U.S. housing investments for 2017

Forbes compiled a list of their top 20 areas in the U.S. to invest in residential real estate. San Diego comes in at number 14.

California pending sales slip

“Even with a strong performance in March closed escrow sales, a shortage of available homes and robust price growth that’s eating away at affordability stifled pending home sales for the third straight month, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.),” reported. In San Diego County homes priced under $700,000.00 sell almost immediately if they are priced reasonably and in fair to good condition. Homes above $700,000.00 move a bit more slowly.

April 21, 2017

U.S. existing home sales up 4.4%

National Association of REALTORS article states, ” Existing-home sales took off in March to their highest pace in over 10 years, and severe supply shortages resulted in the typical home coming off the market significantly faster than in February and a year ago, according to the National Association of Realtors®. Only the West saw a decline in sales activity in March. ”

Mortgage rates lower but “so what?”

“You can say (low mortgage rates) are a boon for buyers, but there’s a problem with that — there’s nothing to buy,” says economist Matthew Gardner in a San Diego Union-Tribune article. This is a great time to be a home seller because there’s just not much competition from other homes for sale.