Zillow recently surveyed a panel of real estate experts, and they predicted San Diego home values to be the most likely to grow faster than the national rate in 2020, compared to all other counties in California. The group of panelists proved to be extremely accurate in 2019 when they predicted a national growth rate of 3.8% and as of November 2019 home values were up 3.8%.
So, what does this prediction mean to you? If you’re looking to buy a home in 2020 it is best to purchase early in the year for a few reasons:
1. Your home is likely to appreciate in the next 12 months. With home values going up, you want to be the one benefiting from this increasing market.
2. Interest rates are incredibly low. I know you’ve heard this one before, but I can tell you firsthand that one of my clients recently locked in the lowest long-term rate I’ve ever seen in my career.
3. Homeownership provides a tax shelter. The sooner you buy, the more interest you will be able to deduct from your 2020 taxable income. This reason alone will save you thousands of dollars at the end of the year.
I welcome the opportunity to speak with you about the San Diego market and share my predictions for the coming year. Please call or text me anytime! (858) 997-7822