The San Diego Union Tribune in the Housing Huddle asked many real estate leaders what are the key aspects for the real estate market in 2015. I found it interesting what their thoughts were…. and here is my summary of what we'll need for a good real estate market for San Diego this year:
1. Income – the median household income will drive the home prices.
2. Job Growth – real job growth at the higher salaried positions for San Diego influence sales.
3. Interest Rates – the low interest rates will allow many to qualify for higher home prices.
4. Loans – New types of loans – for example, stated income and lower down payment loans will assist buyers to take advantage of the lower interest rates and buy now.
5. Inventory – The housing inventory is still low, yet there will be an increase as Spring arrives that will help maintain the house prices.
6. Economics – The international and national esconomics are assisting many now with the lower fuel costs and a stronger dollar.
What are your thoughts about the coming year for the real estate market?
How can I help you in 2015…. are you ready to buy or sell a home? Just need some further market information? I look forward to hearing from you….