Is there any good reason to buy a home in San Diego this year? With housing sales down nearly 40.7%, the most in the last 30 years, the lack of sales is being blamed for the most part on the coronvirus pandemic. The last time home sales dropped this low was in January 1991, when they dropped by 41.5%. Additional reasons for the downturn may be a lack of consumers’ confidence that the economy will recover quickly and because many sellers are pulling their homes off the market, thinking that there may be a better time to sell in the future. In spite of this, home sales in general are up across San Diego by 3.5%.
Reason #1 Despite the drop in sales, home prices are stable in this market. Our low inventory of homes due to homeowners in March and April withdrawing their homes from the market prices have actually risen from last year to this year. Interests rates are historically low so a buyer now has more purchasing power to buy the home of their dreams.
Reason #2 San Diego is a very desirable place to live. It always has been and that fact will not change short of a cataclysmic disaster of irreversible proportions. Investing in a home in San Diego is one of the surest ways of building wealth for you and your family. Maintain your home and add some improvements and the value will increase. When you are ready to sell, know that buyers love chef’s kitchens, fabulous master suites, and more home buyers are looking for home theater rooms with 4K projectors and theater seating. (This 4k projector buyer’s guide might be useful to read)
Reason #3 In an area of the country that most people dream of vacationing in, you can own your own home and live there year round. The San Diego market spans around 400 square miles from the Pacific coast and its beaches to the Gaslamp District to the further inland neighborhoods of Hillcrest and North Park near the San Diego Zoo. And although home prices are higher than other parts of California, so is the quality of living.
Reason #4 For family's with school-age children, San Diego boasts some of the top rated school systems in California. When it comes time for college your child doesn’t have to leave town to attend an outstanding university. Higher education opportunities in and around San Diego are just as varied as the city’s diverse culture. What college student wouldn’t like to attend classes in the morning and then spend afternoons and weekends surfing and sunbathing at some of the world’s best beaches?
What It All Adds Up To San Diego is a spectacular place to visit but an even better place to live. It is a town of surf and sun and the people with a laidback attitude toward life. The weather is nearly perfect, very little rain, not too hot, and not too cold. The city’s dining options include so many trendy independent restaurants that it would take you weeks of nonstop eating out to try them all. It’s the land of flip-flops and casual comfort clothing. And it’s all waiting here for you!