Well, we should first note that the COVID-19 pandemic isn't going anywhere for some time. Expect it to continue to guide and influence daily life in some form over the winter. While it so far hasn't made a lasting negative impact on San Diego real estate, it's essential to keep it in mind as you make real estate decisions.
That said, despite the turbulent year, the San Diego housing market has remained steadfast in the face of it all.
Yes, there was a considerable dip in home sales in April and May, and the lasting effects on the job market won't be known for some time. But with interest rates expected to remain low well into the new year, and buyers reassessing their living spaces, available homes will continue to move at a brisk pace—many of them at or above asking price.
And when measured against other California locales such as Los Angeles and San Francisco, San Diego housing offers a less restrictive threshold to clear.
Of course, the caveat to all of that is the inventory will remain tight. For those that do choose to list their home, they'll be doing so in a very favorable market.
In other words, heading into the year's final weeks and the new year, expect San Diego to remain a seller's market for the foreseeable future.
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