July 13, 2024

San Diego Home Buying Season

San Diego home sales
San Diego home sales

Well, my regular readers will know that for some time now I’ve been saying how the usually seasonally strong spring and summer real estate market’s poor performance will most likely be a harbinger of the week to down fall and winter for San Diego housing.

Also, the other major factors such as record low interest rates, many properties selling at 30% of what they sold for at the peak of our market in the summer of 05, and lastly an abundant supply of homes to choose from, should all have boosted San Diego home sales and home prices. but, alas that was not to be in the San Diego real estate market was flat to down during the period.

Now, the latest reports confirm that Americans bought fewer new homes in that stretch than in any other six-month period since record-keeping began a half-century ago.  Also, sales of previously occupied homes didn’t fare much better. They nearly matched 2009’s total for the peak buying months. And that was the worst since 1997!