@shawngorham No 🐶 on this one…
Craftsman front house with newly built 3 unit that combines timeless 1920s craftsmanship with the visionary modern aesthetics of architect Jeff Svitak
🤙🏽 3760 Pershing Ave San Diego
@shawngorham Completely agree. I believe macro data will show this over time. There appear to be two types of buyers who make decisions quickly and within expectations value buyers and scarcity buyers.
Feeling this in our local market of San Diego will be interesting to see what happens this fall. 2020-current we have had a tight ceiling on inventory and never broke out of the range. If the breakout does happen where we return to pre pandemic numbers 👀
Housing market sees 30% inventory increase, yet still 35% below pre-pandemic
LEFT: 1-year change in active housing inventory for sale (April '23 to April '24)
RIGHT: Active inventory compared to pre-pandemic levels (April '19 to April '24)
https://t.co/QwRLlvXAZx
@KYRRadio This advise can apply to the real estate market as well. I fully expect a bifurcated market that is exasperated by the wealth gap. I expect to see conflicting macro data points but clear direction in micro market analysis.
The Fed's latest economic forecasts show much less conviction that interest rates will return to the low levels that prevailed between the GFC and the pandemic
via @greg_ip
https://t.co/QPYHX6OTGv
I believe IF the fed does hold rates “higher for longer” it will not continue to have the effect it has thus far on real estate. San Diego re market still near historic lows in inventory and historic highs for sales price.