Housing Market In San Diego 2022

San Diego is a beautiful beach city that can be easily overlooked compared to San Francisco and Los Angeles. San Diego is currently the either largest city in California and is prized for its laid-back vibes, the diverse population present, a strong workforce, and the nation’s largest military community.

Currently, San Diego is a great place to purchase a property as a long-term investment or if you’re planning on flipping the property. It is predicted that in the next 10 years, the sales prices are expected to rise by nearly 24%. Since the start of 2019, single-family homes and condos have grown exponentially, and this is expected to continue to grow in the years to come. Home sales have increased by 22.4% since May 2020, despite the pandemic changing plenty of people’s plans. Newly listed homes also make up for 44% of all current home sales on the MLS.

Rent has been on the rise for a few years now and is expected to continue to rise another 9.1% going into 2022. The median rent price in 2021 is currently $2,750. The current median home value is $849,192, having increased by 25.2% over the past year and is forecasted to continue to increase over the next year according to Zillow. As far53.3% of units are currently owner-occupies of people in San Diego are homeowners. In February 2021, there were also the lowest average mortgage rates ever and according to Freddie Mac, this is expected to remain low for the foreseeable future.

The biggest factors to the San Diego Market trends are the fact that unemployment is so high due to the recent Coronavirus pandemic and that there are more single-family and multi-family housing. In addition, the Property tax limits may incentivize home buyers in 2022 to finally buy their dream home or for millennials to become first-time home buyers.

Finding A House In California

If you’re moving to California for the first time, whether it’s due to a new school, a new job, a change of temperatures, or simply wanting a new scenery, California makes for a great place to be. With that said, have you considered the various aspects of California you may want to know beforehand?

California has a large range of temperatures that vary throughout, meaning you’re sure to find somewhere that has just what you’re looking for. Whether you choose more coastal, to be more inland with more weather extremes, or opt for Nor-Cal that tends to experiences the seasons, there’s a city with the weather you’re looking for somewhere in California.

When it comes to cities in California, just like the weather, there are plenty of options depending on what you’re looking for. For those wanting to prioritize large-company jobs, Los Angeles or San Francisco area may be just where you need to be. If you’re looking for a more laid-back feel, cities in San Diego County may give you the work-life balance (and beach) you’re looking for. If you’re looking for smaller cities more inland, places like Bakersfield or the Antelope Valley offer smaller communities. You can also choose to prioritize city life, the beach scene, or a more serene and quiet environment depending on you and your family’s needs.

Another incredible benefit for California residents is the large variety of activities available. Another great news is you don’t necessarily have to settle. Depending on where you choose, you may be a short drive away from accessing other sceneries and activities you may not have access to when you’re at home. When choosing your city and home, ensure you like the neighborhoods around, the leisurely activities (such as hiking, skiing, surfing…), and shops, museums, and events you’re looking for.

The last thing you need to do before making any final decisions is you need to know what you’re looking for and how the numbers look before proceeding. Figure out how many bedrooms and bathrooms you’d like if you’ll need room for extra storage or hosting additional guests, the ideal property size, your outdoor space requirements, and your ideal home style. All of these are important factors that contribute to your dream home.