2019 price change in San Diego housing

[gzz]

My prediction is Dec 2019 YoY will be up 5%, with single family outperforming condo.

Bullish news for existing suburban housing: a judge just ruled big developers need to buy their required carbon offsets within the county. Halted development on major projects until they submit plans he approves. Best case: higher costs and more delays.

[gzz]

My prediction last year was 6%.

https://www.piggington.com/downgrading_my_2018_forecast_sd_re_6

Two years ago I said 5-7%

https://www.piggington.com/what_do_you_think_will_happen_san_diego_real_estate_prices_2017

Three years ago I said 11%

https://www.piggington.com/2016_housing_prices_predictions_where_do_you_see_sd_county_sfh

Four years ago I said 15% over 2 years.

https://www.piggington.com/would_you_purchase_or_wait_my_position

[gzz]

Average mortgage rates in 2019 so far are below the 2018 full year average:

https://www.marketwatch.com/story/mortgage-rates-fall-on-worries-about-global-economy-2019-02-07

Could 2019 also be a year where the treasury/mortgage spread goes down?

[gzz]

Hey, I hit my price prediction directly on the nose last year.

[carlsbadworker]

What’s your prediction for 2020?

[gzz]

I’ll go with 8%, no large differences between single family and condo.

Unfortunately the many sources of rent data disagree on this important factor.

ApartmentGuide.com says SD 2 bed rentals are up 16%.

Rent Jungle says down 4%.

CoreLogic says up 3%.

Average the three and you get up 5%.

The prices at new coastal complexes are staggering. Jefferson “PB” is actually next to the 5 ramp on the wrong side of Mission Bay Drive and a 52 minute walk to the actual beach. You can’t really walk to anything other than maybe the In N Out.

Yet the cheapest 580sf studio is $2300 and the cheapest 1000sf 2 bedroom is $3600, with the 1400sf floorplans going for $4500.

[The-Shoveler]

Wow people must really hate to commute LOL.

You could own a good size house for the rent money on the 2 bed up the road an hour or so.

More power to them.

[svelte]

Speaking of commuting, has anyone else noticed traffic is heavier much earlier since Jan 1? Seems like everyone’s new years resolution was to get to work earlier.

Now even 6 AM doesn’t cut it.

By chance I had to go in an hour later one day last week and traffic was lighter than at 6 AM! I think all those folks shifted earlier…

Let’s see how long that resolution lasts. Will probably be like the gym…

[Author]

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