If you're feeling like the market is shifting in San Diego, I'm feeling it too. Maybe you've noticed that there are more price reductions than there used to be. Maybe you're noticing that listings seem to be taking longer to sell than before. Either way, the supply-demand combination in San Diego seems to be moving in the favor of home buyers (which is good for my clients)!
For example, I ran some numbers this week for a client who is looking for a home with a view in a coastal neighborhood. When I ran the numbers for him in March, there was about a 3-month supply (also known as "absorption rate"). When I ran the numbers this week, the absorption rate had increased to a 5-month supply (and even larger in other neighborhoods).
I'm no economist, but I can tell you that it's more fun for the average home buyer to be shopping for a home when the absorption rate is higher! For a more detailed analysis of the softening San Diego Real Estate Market, read my recent article: Is the San Diego Real Estate Market Softening in 2014?
Justin Gramm is the founder and principal broker of Globella Buyers Realty, yourSan Diego Exclusive Buyer Brokerage. He also writes this blog, "For San Diego Home Buyers."
Exclusive Buyer Agents do not list homes for sale and never represent sellers. They have no "inventory" to try to sell you. They can represent you in purchasing any home. They are specialists at representing buyers only on the buyers' side of the transaction. Exclusive Buyer Agents work to get buyers the best price and terms when they buy a home.
If you have excellent credit and plan to buy a home or condo in San Diego County within 90 days, contact Justin Gramm to hire an agent on your side of the transaction. Call Justin at (858) 437-2662 or E-mail.
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