Is Real Estate a Good Investment at the Moment? Californias economy grew 4.7% in the 12 months ended in February compared to the national rate of 2.8%. The 2020 San Diego housing market began with overall home prices up 5.1% from January 2019 reported by S&P CoreLogic Case-Shiller Indices. So what is the San Diego housing market forecast for 2020? House Prices Forecasts by months: 2020 Search Stock, FX pair, Crypto, or Commodity... San Antonio Housing Market Forecast and Property Price Prognosis Data for 2020 in USD For starters, San Diego is consistently ranked as one of the best places to live in the US. We'll have to see how the lending environment continues to adjust and what effect continued layoffs have on borrowers making their mortgage obligations. The US unemployment rate declined to 8.4% from 14.7% (still up from the 3.9% we were used to) Unemployment claims are down 88% since March. For the end of 2018, there were 6,264 homes and condos on the market compared to 4,018 at the end of 2019. The San Diego housing market is currently getting a boost from a strong local economy. San Diego real estate investors have nothing to worry about in this regard. Our month’s supply of inventory declined from 2.3 to 1.4. US existing home sales in 2019 were near 5.5 million. May 2020 - An important indicator to the resale housing market is layoffs. Stay up to date with the latest tips for Traditional & Airbnb Investments, 7 San Diego Housing Market Trends for 2020, 10 Best Places to Invest in Real Estate in 2020, These Are the Features of the Best Place to Invest in Real Estate, Where to Find Reliable Property Data for Your Real Estate Investment, Housing Market Trends: How Airbnb Affects Home Prices and Rents, Airbnb Ithaca Real Estate Market Excels in the Face of New Laws. Market Data Be trendy -- stay current with our latest market forecasts and data analyses. Housing prices in the San Diego housing market are fairly expensive, relative to the nation. The median single family home price was $665,000 up 3.7%. Meanwhile, traditional median sales prices rose 10.3 percent to $645,000. The housing shortage is hurting the economy. All the info you need on California’s housing market, economy, and issues impacting the industry. June closed escrows were the highest so far in 2020 with pending sales at 3,636. There is a multitude of reasons why property demand is and will continue to be very high in the San Diego housing market. Days on market declined substantially while month's supply of inventory is down to under two months. The San Diego median sales price was $590,000 up 3.3%. On the national front, Anderson Forecast senior economist David Shulman wrote in his forecast that the U.S. economy, which had been growing at … September 2020 housing data -- more of the same Submitted by Rich Toscano on October 9, 2020 - 2:46pm September pretty much looked like August -- sales steady, inventory even a bit lower, and prices popping in response to the low supply/high demand. So what is the San Diego housing market forecast for 2020? August 2020 - Historically in challenging times some industries struggle while others do well. Orlando, FL Housing Market 2020 Analysis (October 2020) Avg. Detached single family home inventory under $750,000 has almost dropped in half. : How to Tell the Difference, The Right Moves to Make in Each Real Estate Cycle, US Housing Market Predictions: What’s to Come in 2019, 5 Trends Beginners Need to Know About the Current Housing Market. SAN DIEGO (KGTV) -- Despite a cooling trend, San Diego is expected to be California’s hottest housing market in 2020, according to a new Zillow report. Homes priced $1,250,001 to $2,000,000 increased 7.3 percent. Without further ado, here are San Diegoâs real estate trends for next year. Homes in San Diego receive 5 offers on average and sell in around 14 days. The CoreLogic Home Price Insights report says nationwide prices should decrease about 6.6 percent from May 2020 to May 2021, driven largely by high unemployment and the continued prevalence of COVID-19. Inventory under $750,000 is even lower indicating a reluctance for sellers to open up their home to the public. Local realtor says there is a lot of uncertainty in San Diego's housing market. We are used to clients flying in for the weekend to peruse real estate. The California GDP has been on an upward trajectory of 4.0-4.6% annually since 2012. Existing Home Sales Up 21% in June Amid... No US Housing Bubble Crash in Sight, Expert... How to Calculate the Rate of Return on a Rental Property. These are merely averages. A great strength of any traditional real estate investing market is its economic success.