The Answer to What's Probably the Most Asked Question in Real Estate.

Ever find yourself wanting to ask this, or other, question?

So how’s the market? This is probably the question I ask more than any other as a REALTOR® with Prudential California Realty. It seems that everyone whether they’re even buying or selling want to know what’s going on in the real estate market here in San Diego California.

The reason I say here in San Diego is because that’s what’s more relative to most people. The local market is what’s going to affect them. This is why I always emphasise that all of that doom and gloom stuff people see on the television, in print or on the Internet might not be relative to their specific situation.

So how’s the market? Well it looks like San Diego is still doing better than other place in country. I always tell people that because San Diego was one  of the first places to feel the downturn in the market it’s going to be one of the first places to return. San Diego has seen 10 plus months of price increases year over year. The inventory last October was in the 8000’s an we’re now somewhere in the 13,000’s. Prices are a stable and sales are flat and this is probably due to more inventory and the time of the year we’re in. As the holidays approach less and less people are going to be willing to move.

According to market data and the recent decision of banks to stop foreclosure prices should rise ever so slightly in the first quarter of next year. I know some people are still predicting and/or waiting for the bottom of the market but I have to ask how will you know when the bottom has arrived? No one has a crystal ball, or at least one that actually works, to fore tell the future. What we do have is information that makes it possible for us to assist our clients make the most educated and timely decision with regards to buying or selling a home.

Everyone is different thus I make it a point to listen, and not just hear, my clients. I want them to feel good about their decisions and most of all be happy when the process is over. look for another market update in early November as more data will be available. Just remember I’m always happy to answer your questions.