The Title of the Wall Street Journal Article is The Housing Crisis is Over. Could this actually be? A well respected national publication is suggesting that there is actually something positive on the horizon for Home Sales in the United States. Well, things are not that easy. I am positive that this topic will continue to be debated for months to come. However, new statistics and historical data regarding National Supply Inventories, Local Market Conditions, and Construction Activity show that the right conditions for improvement are starting to become note worthy. A decline in Home values combined with competitive mortgage rates allows buyers who have normally been priced out of the market a chance to take advantage of diverse supply inventories. As these inventories decrease, and as construction activity slows, the result will be a shift of the market values and perspectives.
We can see this trend in Downtown San Diego starting to develop. Construction Downtown is now limited to only three residential projects. As these and existing New Construction inventories start to be picked over, buyers must rely on the resale market to find the certain floor plans in specific price ranges. For a more detailed look at this trend, review our Blog on Downtown New Construction Inventories.