An exciting new report from the Burnham-Moores Center for Real Estate at the University of San Diego has shed light on some positive recent developments in the local housing market. The study looked at six different indicators to assess the strength of the real estate market in August. The report found that:
- Residential homebuilding increased based on permits issued.
- Consumer confidence continued to climb, thanks to a steadily recovering economy.
- Unemployment claims have increased, but not as quickly as they have in previous months. This may indicate that the jobs market is stabilizing.
All in all, these are very hopeful signs, indicating improvements in the housing shortage situation and pointing toward growing demand among consumers.
Indeed, Alan Gin, the report’s author, wrote, “Positive but slower growth is expected for the rest of the year and at least through the first half of 2018.”
When homebuilding increases, that has positive ramifications not just for the housing market, but for the economy at large. It creates jobs, and it also helps to keep housing costs stable across the region.
All of this means that this is a wonderful time to take advantage of San Diego’s thriving real estate market and move into or build the home of your dreams. It’s also the perfect time to sell if you are looking to move on to the next stage in your journey. Contact me today to set up a consultation.