By Denise Matthis
Five facts no one is telling you about the San Diego Real Estate market
T
he San Diego housing market was quick to heat up when the year began, but as we get into the middle of the year, housing experts feel that the market has begun cooling off. The economy is recovering well, and as a result, home sales are predicted to decline by real estate experts. This change may be because there is more certainty now than there was last year, and more people are willing to list their homes. The employment rate, the GDP per capita, and average income have also increased. The new developments bear good news for homebuyers. They will be able to find homes easily without much bidding. Home affordability with mortgage rates still low is still achievable. And as so, it is still a great time to enter the housing market. WWW.THEPOWERISNOW.COM
But first, let’s take a deeper look into the San Diego Housing market. 1. BUILDING CONSTRUCTION IS UP Building permits were up 27% in the first quarter of 2021. Building permits for multifamily and condos had the highest increase of 39% and 8% for single-family homes. Additionally, the construction industry hit a very productive margin, in the first quarter with nearly 3000 new home construction. The construction of multi-family, townhouses, and single-family homes went up by 22% in the first quarter of 2021 from last year’s quarter. It is projected that more than ten new masterplanned communities will be built in North l
89
