The Union Tribune just published a fantastic mid-year update on the for-sale housing market here; it is full of great charts, stats, and data by zip code.
Earlier this year, I published a report on where the for-sale housing market is trending, and many of those predictions have proven true.
This biggest questions in the market:
Why aren’t prices rising? Have we hit a peak?
With historically low unemployment and interest rates, we would expect to see prices rising. And in some neighborhoods, they are (see the great charts in the UT article). In others, prices are down slightly.
So for folks looking to sell their home, move-up, move-down, or get out of the market completely, what is a good strategy?
The conclusions from my article in May still hold:
- San Diego is a supply-constrained market, which will always put upward pressure on prices
- Short term blips are not likely to re-create the tremendous buying opportunities we saw in 2008 – 2012
- Your home is an illiquid asset that you live in – it’s not a stock to trade
- So if your family circumstance dictate that now is a good time to buy / sell your home, that should be the #1 deciding factor
- Waiting to time the market is not a winning strategy.
MV Properties is here to guide our clients through these decisions. We think about real estate obsessively, and create strategies specific to each of our clients’ needs.
If you are thinking about buying or selling a home, let’s talk and develop your strategy for building wealth through real estate. MV Properties’ boutique realtors will execute that strategy for you.
About the Author
Keegan McNamara has over 20 years’ experience in all aspects of real estate development, investment, consulting, and management. Mr. McNamara is the owner of www.mcnamaraventures.com and www.mvproperties.com.
Mr. McNamara is a licensed real estate broker and holds an MBA in Finance from UC San Diego’s Rady School of Management, and undergraduate degrees in Economics and English from Occidental College.