The biggest question facing people right now is the future of Real Estate prices. In a nutshell, after reading multiple articles, many of them below say that sales will drop significantly in the short to mid term but reboot in the next 12 – 18 months. Prices will pull back no more than 3 % over last year (Less than 1 % throughout the county) over the next year but will continue their upward trend in the mid to long term. This is due to supply and demand, always the driving factors in any market. The fundamentals in the housing market are good; we have good demand and short supply, hence a solid market.

Zillow spends a fortune on research and while their “zestimates” are by their own admission “a starting point” which should not be taken as gospel,  I have no problem with their metadata which looks at the overall market. There are sufficient data points there to minimize margin of error and from the 10,000 ft view, things in San Diego are looking good. If you want more detail on your particular area, please let me know and I will help you.

Is this a good time to buy? Yes, if you can get a loan- they are difficult right now due to limited liquidity. Rates are super low and you can fix your monthly costs for the next 30 years. Is this a good time to sell? Yes!! Inventory is low and buyers are still competing for homes that are fairly priced. Multiple offers are still not uncommon.

Here are some of the articles I referenced:

The housing market has bottomed: Zillow Senior Principal Economist – Yahoo Finance

What Home Buyers and Sellers Can Expect in 2020, as Pandemic Revises Forecast -Realtor.com

What Home Buyers and Sellers Can Expect in 2020, as Pandemic Revises Forecast