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The following article was published in our article directory on January 7, 2014.
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"New Home" Growth in San Diego County

Article Category: Real Estate

Author Name: Kari Shea

New homes San Diego's real estate industry insiders predict a slight growth in the number of new homes as increase in supply will try to match expected demand in 2014. Demand for new homes in 2014 will be propelled largely by newly employed individuals and, to some extent, by people relocating to San Diego in further anticipation of increased economic activity in emerging industries and expansion in existing ones.

The domestic employment scene is coming up rosy by ending the year with the tapering down of unemployment rate to 7% in the last quarter of 2013 from a high of 7.8% in July 2013. This means that 0.8% of the San Diego population found work since July 2013 and has been earning some income locally. This further means that these newly employed individuals are saving some money and - in a few more months into 2014 - will become potential homebuyers. In past years, most of the unemployed saw themselves going back into their parents' fold trying to keep afloat in the very volatile domestic economy. In the advent of 2014, with the promise of increased economic activity, external investments and relocations, joblessness is expected to further taper down, resulting to more unemployed people being absorbed by emerging and expanding industries. In effect, most homes will experience some underlings, if not all, to be leaving their family nest and venturing out on their own, thereby pushing demand for new homes further.

In 2014, as the national economy is expected to perform even better than it did in 2013, external investments will be pouring into San Diego. Demands for upscale housing facilities with hotel and resort-like amenities to house expatriates will become an attractive niche to corner in the industry. External funds will rebound to promotion of staff positions to supervisors; supervisors to managers and thereby pushing net worth and providing sizeable equity for people to trade up homes from humbler abodes to a more upscale ones.

San Diego's warm weather, expansive beach fronts, and tourist attractions will definitely lure more people to relocate and thereby further push demand for new homes in the beach area.

Having all these factored in, new homes San Diego's industry insiders have come up with an educated guess of a slight increase in median price of new homes towards the second half of 2014. But unlike 2013 when it saw a whopping 16% increase, insiders expect a more sensible increase of approximately 4% to 6% in median price for new homes San Diego towards the end of 2014.

Specific segments of new homes San Diego within the range of 1,500 square feet to 2,500 square feet will continue to dominate the new homes listings for a well-appointed shelter of 2 to 4 bedrooms and 2 to 3 toilet and bath, which is good enough for a startup family or single professional. As of the last 7 days, listings of new homes in the week of December 23, 2013 to December 29, 2013 of the San Diego based Shea Real Estate company, new listing's top locations are in the area of Santee (92071), San Diego (92115), La Mesa (91942), Carlsbad (92009), and Chula Vista (91911).

To find new homes San Diego, visit the listings or get listed at www.shea-realestate.com.

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