No Holiday Slowdown in San Diego Real Estate
San Diego real estate market projections for the month of December are going against expectations. Early information from Realtor.com shows that San Diego is staying hot, and is immune to any holiday slowdown. The article posted on Thursday places San Diego at the 5th hottest Real Estate market in the US for December.
Realtor.com’s chief economist Jonathan Smoke stated that demand seems to be intensifying ahead of anticipated mortgage rate increases. “The threat of rates approaching multiyear highs in the months ahead is creating a sense of urgency.”
It Never Rains in Southern California
Historically, median home prices decrease during the cold holiday season. The trend has vanished this year, and San Diego is one of the places where homes are selling the fastest in the country. And western cities are expected to continue to lead the nation in prices and sales into 2017. Since the top 10 markets are forecast to see average price gains of 5.8 percent and sales growth of 6.3 percent over the coming year, San Diego appears placed to fare well in the coming year.