24% Price Increases in San Diego County Last Year

The San Diego County real estate market exploded in the first half of last year and slowed a little in the second half. During the year prices increased 24% as shown in the “Market Trends” tab. Prices are expected to increase again this year at about half the rate of last year. The low inventory of homes available for sale last year was one factor impacting the price increase. Although the inventory increased from 1.5 months to 2.8 months by January of this year, it is still well below the normal range of 5-7 months. There is expected to be a real estate shortage over the next five years due to the the increasing demand for homes and very few homes being built.

Advertisements
This entry was posted in Market Trends, Real Estate, San Diego. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s