What do the election results mean for the San Diego Real Estate Market?
How the Recent Elections Impact San Diego’s Real Estate Market: A Breakdown by John Gluch
In a recent video, John Gluch, team leader of the Gluch Group, shared insights into how the recent elections might influence San Diego’s real estate market. Here’s a summary of his key points:
Interest Rates Stay Steady
Despite speculation, interest rates have remained relatively unchanged following the elections and a recent Federal Reserve rate cut. They continue to hover between 6-7%, a range they’ve occupied for a few years. John advises buyers and sellers not to wait for dramatic changes in interest rates, as they could remain steady for the foreseeable future.
Inventory Trends
San Diego’s housing inventory follows seasonal patterns, with a decline during the holiday season and a peak in spring. While there is more inventory now compared to previous years, the balance of supply and demand often shifts throughout the year. Buyers might face less competition during the holidays but encounter fewer options, while spring offers more choices but also more competitive bidding.
Timing Your Move
John emphasizes that timing your real estate decisions should align with your life circumstances rather than market speculation. Whether buying or selling, it’s essential to assess the specific conditions in your neighborhood, as some areas are hotter than others in terms of demand and available homes.
Expert Guidance is Key
The Gluch Group is ready to assist San Diegans in navigating the complexities of the current market. Whether you’re buying or selling, they can provide insights on home valuations, local trends, and tailored property recommendations.
As John puts it, “Live your life, and let your circumstances guide your decisions.” If you’re considering a move, now is the time to start the conversation.
Happy holidays from the Gluch Group!
