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Originally Posted by mb
Yes, booming over the last 5 years. But no market is heading north these days. Everything is correcting itself. You see reports on median prices going up, but that's year-over-year which doesn't mean squat when looking at today's market. Inventory is what needs to be looked at. San Diego just set a new record for the most number of homes on the market EVER.
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That may be true in some locales, no doubt. Here locally the buyers are outnumbering the sellers 2:1 - one of our neighbours had 11 bids on their house and it sold within 4 days of being listed.
I'm just baffled what's fueling it lately. All the major industry has pulled out in recent years. The only employment left is mostly service sector crap (Burger King - min. wage). Mostly its considered a bedroom community, with commuters heading elsewhere each day.
Mind you - its a nice peaceful and quiet town and central to a lot of popular tourist destinations. Very little crime. Ideal place to raise kids.