San Diego Housing Market Forecast- May 13-19, 2022
It appears we are transitioning rapidly into a buyers market as available inventory has risen 70% in the past two months and new Pending sales continues to fall. We now have a little over 1 month of inventory available based which isn’t a lot, but we were at a 1/2 month supply of a homes just a couple months ago. That’s a doubling of the supply of homes in a very short time frame.
The situation is like guerrilla warfare right now: It’s home-to-home and neighborhood-to-neighborhood. What I mean by this is, each home and neighborhood is experiencing it’s own unique factors as to whether it will sell above List Price, at List Price, or take a price reduction. We’re now seeing the more traditional factors that impact a homes desirability coming into play again. If a home has unchangeable characteristics like, it overlooks a freeway, has powerlines running over it, etc, then people aren’t buying and the homes are sitting. If they’re very desirable, then they’re selling for well over list price
Curtis Chism, Realtor
858-281-2568 | Mobile
mailto:info@sandiegohomes.io
Chism Team | DRE #02105113
brokered by eXp Realty | DRE #01878277
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