Anyone else feeling whiplash from watching the stock market last month??
For those of you who missed the excitement – the Federal Reserve issued a fourth interest rate hike to close out 2018. Unfortunately this spooked the stock market into a terrifying roller-coaster ride that left many feeling whiplash in their wallets.
The Fed has since indicated that the number of rate increases will be halved in 2019 – while this new year’s resolution is a hopeful start, it may be of little comfort to an already compressed consumer. Change is happening, but is it enough to tackle the growing affordability issue? Here’s what’s ahead for San Diego real estate in 2019..
Unemployment rates are at record lows & wages continue to improve for many households across the country, which is generally a good sing. However, as wages gradually increase so do average home prices AND the rate of increase for homes is drastically outpacing wage increases. This condition is what created an affordability crux in the second half of 2018.
Last year, home prices were consistently up again but at reduced levels compared to years prior. Median Sales Price this month was up 2.5% for Detached homes and 3.5% for Attached – compared to last year with 5.7% and 8.1% increases. We saw inventory increase 29.6% for Detached homes and 55.9% for Attached homes.
Mounting evidence says we will continue to maintain these higher inventory levels across SD county. This is a step in the right direction for alleviating affordability gaps – however we still have quite a distance to cover – Housing affordability will remain an important storyline in 2019.
A Southern California native, Marla spent many years developing her business skills in Orange County, Inland Empire, and San Diego. Joining the The Arendsen Group in 2018, aspires to grow within her industry. Marla uses her exceptional creativity to quickly produce results and her extensive knowledge in the industry to effectively market real estate listings. Marla has demonstrated her passion for business and client satisfaction over the years, specializing in property management then finding her niche in real estate. Her passion for helping others and making sure that each interaction with clients is memorable and fun, as well as 100% informative and effective. Her goal is that every client has their ideal experience in buying a nd selling their most treasured financial asset.
Marla has studied business administration in college, and still continues to educate herself in her field. She began working for Fairfield Residential at the beginning of her career, as a business intern, establishing herself as a property manager. However, she soon began taking on additional roles as her managers noted her knack for establishing rapport with clients and soon grew to within the company as a Regional Supervisor.
In 2014, she moved to Carlsbad, CA finding herself in a wonderful area among talented professionals and a great community with amazing resources and people. She has settled into La Costa, and enjoys spending her time with her three amazing children and their dog. Marla devotes herself to the community, actively volunteering at the local schools as well as an active contributor at Habitat for Humanity, monthly Surfrider beach cleanups, and adoption events with Labs and More. She’s not just a beloved agent, but a trusted friend and mom who works hard, plays hard, and loves being a Real Estate Advisor.