Nov. 18, 2019
The San Diego housing market may more unpredictable in 2019 than in previous years, in part due to slow sales and in part because of growth in both the number of jobs and in wages. Those considering buying a home will need to know some things in order to navigate the waters of real estate purchasing.
San Diego can be full of surprises since it is known as a technology center and with more people moving in to take jobs or start businesses. The city has greatly related on tourism for its economy in the past, but has shifted to courting more professional, biotech, IT and telecommunications industries to grow its tax base.
That means there are more people settling in San Diego County rather than visiting as tourists. While income is still catching up to the population, housing construction remains at the same pace as the past three years. That results in a competitive home market with higher demands.
It's no secret that national tax cut legislation hurt home buying in California and other places as it placed caps on mortgage deductions for those who itemize their taxes. However, that hasn't stopped builders from continuing in and around San Diego and some of the homes being constructed – along with who may be purchasing them – may surprise you.
There are five surprising housing predictions for San Diego home buyers in 2019.