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San Diego Real Estate Market Forecast 2014

America’s Finest City, San Diego, had a large number of real-estates come onto the market. Over the period of 12-month, the number of homes on the market have been increasing around 57 percent, going to 1,873 from 1,192. And as the economy improves in the year of 2014, the demand of job growth as well as the population in San Diego will continue to move upward resulting in around 13-percent increase in median real estate prices to $47,000.

Due to this, owning a house in San Diego will be less affordable for any families, whose annual incomes are predicted to be rising up to only 3 percent, barely able in keeping their pace with the expected inflation. However, the remarkable increase in San Diego real estate price of almost 16 percent back in 2013 will not be repeated in this year. Since more and more households seek to sell their homes, we will also be able to witness the rise in the percentage of buyers for San Diego real estate. This will also cause the listing prices for multimillion dollar luxury homes to increase.

Even with the rising market, the influx of foreign potential buyers who consider in buying these multimillion dollar homes will be contributing to the rise of percentage in San Diego real estate market. Families will always desire San Diego as a place to call home for its warm weather, steady job market and low rates of vacancy in the rental market. Home prices will continue to stabilize and move upward. Other than that, San Diego will be witnessing the increased demand from the international luxury homes buyers.

Given with all these factors, the estimated median home price in San Diego County will be increasing 21 percent higher toward the end of 2014. Strong sales numbers should be expected, and gradual prices increase over the rest of the year will be recorded as well due to the number of buyers entering San Diego real estate market.

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