San Diego real estate doesn’t stand all on its own. Our real estate market here is more global than you might think, but will the coronavirus have an effect on our real estate and/or economy?
Truthfully, I feel that the economic situation that’s unfolding could be a great thing for the market. Markets do ebb and flow as part of normal cycles every 10 years or so. We’re about 13 years removed from the last “contraction,” so the markets have been looking for some reason to correct.
“Demand remains strong for real estate in San Diego.”
If you look at all the things that could cause a correction, from wars to a financial system disaster to the E.U. breaking up, the coronavirus isn’t going to have a particularly lasting effect. In about six months, I believe this issue will play itself out and enthusiasm will come back to the market quickly in response.
In the San Diego real estate market, we’re still on fire in every price point outside of the luxury market. We might see some mild tapering, but we’ll also see a lot of smart buyers continue to invest with low interest rates decreasing even further. The demand for real estate will be so strong at the end of this cycle that you’ll be disappointed if you chose to wait it out.
If you have any questions for me about the specifics of this situation or about real estate in general, don’t hesitate to reach out via phone or email. I look forward to hearing from you.