Monthly Indicators | December 2015
In 2015, national residential real estate, by and large, had a good year. Supply and demand were healthy in an environment rife with low interest rates and improved employment. The Federal Reserve finally increased short-term rates in December, and more increases are expected in 2016. Housing markets have shown a willingness to accept this. Save for a few expensive outliers where low inventory and high prices have become the norm, a balanced market is anticipated for much of the country for the foreseeable future. Improved inventory and affordability remain key factors for continued optimism.
What to Watch
Gross Domestic Product increased at an annual rate near 2.0% to close 2015, and that rate is expected to increase in 2016. Residential real estate is considered a healthy piece of the national economy. Contributing factors from within the industry include better lending standards and foreclosures falling back to more traditional levels. Declining unemployment, higher wages and low fuel prices have also conspired to improve personal budgets.
Monthly Snapshot – December, All Properties
Residential real estate activity in San Diego County, comprised of single family properties, townhomes and condominiums. Percent changes are rounded.
Median Sales Price – December
Point at which half of the sales sold for more and half sold for less, not accounting for seller concessions, in a given month.
Median Sales Price – 2015
Days on Market Until Sale – December
Average number of days between when a property is listed and when an offer is accepted in a given month.
Inventory of Homes For Sale – December
The number of properties available for sale in active status at the end of a given month.
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Laura Sechrist Molenda