San Diego Among ‘Hottest” Market

The median online listing time for a home in San Diego County was 37 days on market, down from 41 the month before. It had reached the No. 5 hotness spot, its highest ever, on the list in January. San Diego averages around 10.

Although what may considered a “hot” market for some, particularly sellers, might not be others.

“Market hotness has very different meanings,” said Javier Vivas, economic researcher for Realtor.com. “In our very basic interpretation, we’re simply saying there is pent up demand and limited supply.”

A lack of homes for sale, coupled with job growth and low interest rates, have pushed home prices up 6.4 percent in the last 12 months in San Diego County — making purchasing a home increasingly difficult for first-time buyers. The median home price here was $489,000 in April, said real estate tracker CoreLogic.

read more at: http://www.sandiegouniontribune.com/news/2016/may/27/eight-hottest-market-realtor/

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