Housing demand too strong for supply

It wasn’t too long ago when for sale and foreclosure signs lined our streets and neighborhoods for months on end with buyers afraid to make a move only to see home values drop more. Those days however are long gone. In San San Diego County, a home seller can expect to receive multiple offers on their property within 7 days. Provided it isn’t overpriced of course.

The San Diego market has greatly benefited from a lack of homes for sale. San Diego County has had a year over year reduction of 44% in homes for sale. Needless to say, when you take away so much of the market, something has got to give.

In this case, home prices are soaring. San Diego saw a 13.3% jump in home prices over the 2012 year and that trend does not seem to be fading in th least. Home buyers are out fighting for the few homes available offering everything they can in hopes of getting in before they are priced out of the market.

Tell us what you think about the market. Are you seeing this happen in your town?

About Daniel Di Matteo

Realtor at CENTURY 21 Award, Daniel was Voted U-T San Diego’s Best Real Estate Agent in 2014. A Husband, Father, and most recently, accomplished Blog writer, which explains your visit today.