Kara Kay looks at San Diego Real Estate in 2021
SAN DIEGO (KUSI) – At the moment, showing activity remains higher than the same period a year ago meaning there are more people out looking at property than were out this time last year, according to San Diego realtor Kara Kay.
“Inventory is continuing to be constrained, and for that reason, sellers are benefiting from tight market conditions. It’s a best of both worlds situation where both buyers and sellers are benefitting in this market; sellers are still getting multiple offers, and buyers have a chance to lock in a rate so low it’s hard to refuse. Mortgage rates recently hit another record low, the 15th record low of the year, while mortgage applications are up around 26% from last year,” said Kay.
Kay joined Good Morning San Diego to take a look at Real Estate in 2021, “If I was to predict the future, I’d say 2021 will mirror what we saw in 2020. Some stop and go action that is heavily dependent on the amount of inventory that becomes available, but overall a bit more predictable. I truly think we’re going full speed ahead into another uptick and this time with an increased amount of transactions as we edge into more certainty surrounding Covid.”