Home prices in San Diego County may be rising, but that doesn’t mean your blood pressure and anxiety have to take a hike along with them.
In fact, what’s happening in the national and local real estate market now can be a very good thing, both for homebuyers and for the overall health of the real estate market.
Flash back to the last few years, when the inventory and prices were low and the pressure was on.
If you were in the market to buy at the time, you probably remember the thrill of enticing low price tags – often followed by the disappointment of being outbid almost immediately, maybe by an out-of-state investor. You might also recall the fact that such a competitive atmosphere sometimes required split-second decisions, and “split-second” decisions may not be the kind you’re comfortable making when it comes to such a big part of your family’s financial and personal future.
Now, back to the summer of 2014. In August, statistics from the Greater San Diego Association of REALTORS® show that home sales were up. The MLS (Multiple Listing Service) showed more than three months’ worth of inventory – about 8,400 listings – and the S&P/Case-Shiller Home Price Index had San Diego County home prices rising 10.2 percent from June 2013 to June 2014.
We’re looking at home sales and prices that are rising, but not at an unsustainable rate, and at inventory that’s approaching healthy levels. We’re looking at stability – and that’s a win for everyone.
As San Diego State University real estate lecturer Mark Goldman told the U-T earlier in an article earlier this summer, “Stability, equilibrium, predictability and reduced risk are all beneficial in the housing market.”
So, take a deep breath, and take your time perusing listings – check them out at SD County Realty – and compare mortgage rates at Bankrate.com. See what you like and don’t, make comparisons, and visit lots of homes in person. Relax knowing that you don’t have to jump at the first thing you see, and that buying a home can actually be an enjoyable process.