September 2020 Real Estate and Mortgage Trends – San Diego, California
The biggest news so far in September, is that Homebuilder Confidence rose to another record-breaking high. It reached up 5 points to 83 – the highest in the NAHB’s survey 35-year history. Any number above fifty is considered positive.
Lumber costs have risen from demand and difficulties for supply have hindered construction.
According to the National Association of Homebuilders, lumber costs for the average single-family home have climbed more than 130% since April 202 (NAR)
The persistent demand, and limited supply, home prices will be expected to push higher. Now is still a great time to enter the market as mortgage rates are holding low averages. If you are considering buying or selling a home, please reach out for more details.