There have mixed opinions of how the San Diego real estate market will pan out due to the government ceasing work. According to some experts, if the government shuts down for more than 30 days real estate could take a hit, whereas some experts don’t see any issues arising.
Valley Center, a small rural town that is on the verge of changing to a suburban community in San Diego County, has improved in housing and marketing prices, but continues to mirror the amount of homes sold in 2012 according to Valleycenter.com.
The overall amount of houses sold in Valley Center in 2013 are at 188, which is a mere four houses greater than the numbers of 2012. Sporting 87 active listings and 30 are pending, many of these Valley real estate properties are remaining on the market.
According to Valleycenter.com, San Diego County real estate has had prices increasing nearly 30 percent between the months of January and July in 2013.
Many buyers are hastily purchasing real estate in San Diego and all across the country before prices begin to escalate.
When compared to 2012, Valley Center saw the biggest change in May 2013 as 34 homes were purchased on average within 65 days on the market and close to 100 percent of the asking price according to an article and a graph in Valleycenter.com. In May 2012, only 12 homes were sold in an average of 90 days on the market and about 95 percent of the asking price according to the aforementioned source.
Although, according to Valleycenter.com, September was the worst month in sales of 2013 only selling 10 homes. That’s a seven home drop from the prior month posting 21 homes sold.
However according to Valleycenter.com, these active listings are being delayed due to the incapability of government loans being approved because of the effects of the government shut down.