Prices Surge & Supply Dwindles

Share

The housing market in San Diego County reached new price peaks in 2017, shattering records left over from the 2005 housing boom.

  • Home prices rose as the number of homes for sale continued to drop — even more so than previous years. Meanwhile, the number of sales stayed about the same.

  • Strong job growth, low unemployment and historically low interest rates all contributed to rising prices, said Mark Goldman, finance and real estate lecturer at San Diego State.

  • “If you look back at 2017, it was a robust year.” Goldman said. “Interest rates were quite good; the economy was continuing to barrel ahead; wages were strong; employment was strong. And millennials were aging into the homebuying market.”

Leave a Reply

Your email address will not be published. Required fields are marked *