Here we’re looking at single family home sales. This data goes back almost twenty years and gives us a good look at what the housing market has been doing, and where its trending.
If you look to the left, you can see the impact of the big housing crisis where homes sales ground to a halt and bottomed out in 2007. We see another huge dip in 2020 when COVID took hold, and again in late 2022 when the FED substantially raised interest rates.
The housing market still hasn’t really recovered from the new interest rate reality. Things have been very slow in the residential real estate world here in San Diego and across all of California, but you can see here on the right, we’re starting to see signs of life in 2024 as we move into the busy spring and summer home selling seasons!
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