June 6 Real Estate Update

Just as you can’t predict the temperature in El Cajon by looking at a newspaper account of the temperature in San Diego, which is measured by the water at Lindbergh Field, so too you can’t judge the real estate sales in Hidden Meadows by reading what is happening elsewhere. The Meadows has its own microclimate, both in weather and in real estate sales activity.

The Meadows is still lagging the general San Diego market, and our inventory continues to remain higher than one would expect at this time of year. Since mortgage rates have still not increased above historic lows, the only answer must be price resistance. That may not be an altogether bad thing, and I predict that it signals a moderation in price increases rather than a real estate bubble.

Traffic is starting to pick up but if the market does turn around it will leave us with a relatively short selling season.