Hope Leitner, Realtor®, CRS

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  You may have heard that there are more  brand-new homes  available right now than the norm. Today, about  one in three  homes on the market are newly built. And if you’re wondering what that means for the housing market and for your  own move , here’s what you need to know. Why This Isn’t Like 2008 People remember what happened to the housing market back in  2008 . And one of the factors that contributed to that crash was that there were too many  homes for sale . While only part of the oversupply back then came from builders, the lasting impact is that some people still feel uneasy when they hear new home construction has ramped up. Even though the supply of new homes has grown this year, the data shows there’s no need to worry. Builders aren’t overbuilding, they’re just catching up.  The graph below uses data from the  Census  to  show  the number of new houses built over the last 52 years. Following the crash in 2008, there was a long period of underbuilding ( shown in red ). And

Spring's arrival heralds a warming trend in the real estate market, signaling the onset of a hot sales season ahead.   Below you'll find the housing report for the current month along with data from the preceding two months. Notably, there's a surge in the number of properties hitting the market in the last two months, indicating a growing pool of sellers. However, it's crucial to recognize that buyer demand remains robust. Despite this uptick in listings, San Diego County continues to grapple with an inventory shortage. The average cost of a home has risen, but that doesn't mean there aren't still some affordable properties out there.    Whether you're contemplating a purchase or sale, I invite you to reach out. Let's discuss your options within the dynamics of our distinctive housing market, ensuring your decisions align with the current trends and realities.   If you know anyone who might be interested in receiving this market update every month, plea

  Let’s get one thing clear. Context in content is  always  important. But when it comes to the housing market, especially the one we’ve seen the last few years, it’s even more crucial. Why? Because the market trends in recent years are anything but normal. So, when you’re answering questions or dodging objections, context matters even more. Let’s break down an example. This is a recent headline a major news outlet published: We’re all guilty of seeing headlines and jumping to conclusions. We’re especially guilty of not diving in and reading the entire article to understand the full context of how that statement came to be. But words like “price drop” are alarming when it comes to the housing market. They give the impression that home prices will fall, possibly significantly, this year. Opinions are formed, conclusions are made, and misinformation is spread. However,  this headline  couldn’t be further from the truth. That’s where context comes in. If you look at the visual below, you