HOW'S THE REAL ESTATE MARKET DOING?

(As of JULY 2017)

THE PAST

The infamous Mortgage Meltdown led to the most epic real estate market crash in modern history.  The bottom of that market was February 2009.

THE PRESENT

Market resilience, and good old fashioned supply & demand have created a NINE year run-up in prices, from $320K to $612K.  What most people don't realize is this price increase represents a 91% INCREASE in price since February 2009, or just over 10% per year ... which is PHENOMENAL. 

THE FUTURE

Since a typical market will go "UP" in value for about 5-7 years, and since we're now in our 9th year I wonder if we'll possibly level off and stabilize.  I'm not entirely sure, but I believe the following two things are the most important to watch:  1)  Interest Rates, and maybe even more important 2) INVENTORY.  Currently, rates are starting to come up low but inventory is very, very low.  These two factors might cancel each other out (higher rates but lower inventory) and provide a very stable market for the next few years.

Keep checking this page for the current market conditions in San Diego, and of course if you have any questions give me a ring @ 858.531.4663 or shoot me an email @ troy@troynichols.comI'd love to help you with all your real estate & financing needs.