San Diego, CA - North County median home prices +1.3% in March 2021 compared to prices in February 2021 (+26.3% from March 2020 and +12.0% year-over-year).
North County San Diego Market Report | Mortgage Loan Rates News
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A quick snapshot of statistics, rates and trends, here in North County - San Diego, California.
60 Second Home Market Update - March 2021
A fun March 2021 snapshot of real estate statistics, rates and trends, here in North County, San Diego, CA. Includes our popular beach communities of Oceanside, Carlsbad, Encinitas, Cardiff, Solana Beach, Del Mar and La Jolla.
20% - Annual Appreciation
3.1% - Today's Loan Rate
4% - Annual Rental Price Change
Remember, this is regional data, keep me posted on what you're keeping an eye on.
Home Prices: What Happened in 2020? What Will Happen This Year?
The real estate market was on fire during the second half of 2020. Buyer demand was way up, and the supply of homes available for sale hit record lows. The price of anything is determined by the supply and demand ratio, so home prices skyrocketed last year. Dr. Lynn Fisher, Deputy Director of the Federal Housing Finance Agency (FHFA) Division of Research and Statistics, explains:
“House prices nationwide recorded the largest annual and quarterly increase in the history of the FHFA Home Price Index. Low mortgage rates, pent up demand from homebuyers, and a limited housing supply propelled every region of the country to experience faster growth in 2020 compared to a year ago despite the pandemic.”
Here are the year-end home price…
How to Be a Competitive Buyer in Today’s Housing Market
March 2021 Housing Statistics & Loan Rates
San Diego, CA - North County median home prices +5.9% in February 2021 compared to prices in January 2021 (+20.2% from February 2020 and +10.1% year-over-year).
North County San Diego Market Report | Mortgage Loan Rates News
60 Second Home Market Update - February 2021
A fun February 2021 snapshot of real estate statistics, rates and trends, here in North County, San Diego, CA. Includes our popular beach communities of Oceanside, Carlsbad, Encinitas, Cardiff, Solana Beach, Del Mar and La Jolla.
13% - Annual Appreciation
2.9% - Today's Loan Rate
3% - Annual Rental Price Change
Remember, this is regional data, keep me posted on what you're keeping an eye on.
Where Have All the Houses Gone?
In today’s housing market, it seems harder than ever to find a home to buy. Before the health crisis hit us a year ago, there was already a shortage of homes for sale. When many homeowners delayed their plans to sell at the same time that more buyers aimed to take advantage of record-low mortgage rates and purchase a home, housing inventory dropped even further. Experts consider this to be the biggest challenge facing an otherwise hot market while buyers continue to compete for homes. As Danielle Hale, Chief Economist at realtor.com, explains:
“With buyers active in the market and seller participation lagging, homes are selling quickly and the total number available for sale at any point in time continues to drop lower. In January as a whole,…
Home Mortgage Rates by Decade
Some Highlights
- Mortgage interest rates have dropped considerably over the past year, and compared to what we’ve seen in recent decades, it’s a great time to buy a home.
- Locking in a low rate today could save you thousands of dollars over the lifetime of your home loan, but these low rates may not last forever.
- If you’re in a position to buy a home, let’s connect to determine your best move in today’s housing market while interest rates are still in your favor.
Friday February 19th, 2021 - © Keeping Current Matters, Inc.
February 2021 Housing Statistics & Loan Rates
San Diego, CA - North County median home prices -0.6% in January 2021 compared to prices in December 2020 (+13.3% from January 2020 and +10.2% year-over-year).
North County San Diego Market Report | Mortgage Loan Rates News
3 Reasons We’re Definitely Not in a Housing Bubble
Home values appreciated by about ten percent in 2020, and they’re forecast to appreciate by about five percent this year. This has some voicing concern that we may be in another housing bubble like the one we experienced a little over a decade ago. Here are three reasons why this market is totally different.
1. This time, housing supply is extremely limited
The price of any market item is determined by supply and demand. If supply is high and demand is low, prices normally decrease. If supply is low and demand is high, prices naturally increase.
In real estate, supply and demand are measured in “months’ supply of inventory,” which is based on the number of current homes for sale compared to the number of buyers in the market. The normal…