Housing market FAQ: how to decipher real estate market updates
By Vicki Johnson
Good or bad, optimistic or dismal, real estate market updates have the power to sway economic outlooks and reader impressions on a daily basis. Of course, these reports are also subject to frequent change and diverse interpretation – meaning that many homeowners find it difficult to get a strong sense of where the market is actually headed, and how to use that information to inform their own plans. As a San Diego real estate agent, I am constantly faced with the same question: “how is the market?” And the answer is entirely dependent on each individual homeowner’s real estate objectives. Rather than letting each new report dictate your next move, try looking inward and ask yourself what you want to get out of the market. After all, the numbers don’t mean anything if you aren’t planning on buying, selling or investing – and even then, statistics can often be deceiving.
To illustrate the subjective significance of real estate market updates, let’s look at an example. According to the San Diego Business Journal, median values for single family homes increased last month to $400,000 – a boost that has industry commentators taking an optimistic view of the future. Now, according to conventional wisdom, a rise in home prices is good news for sellers and the economy, and bad news for buyers. But in reality, the impact of median home price gains – or for that matter, of any statistical tweak to market values, price per square foot, interest rates and so forth — depends entirely on where you are in life (and in real estate). Are you upgrading or downsizing? Still building your future or kicking back to reap the rewards of your hard work? These are the questions that should be dictating your next move – not the latest real estate headlines. And once you know what your objectives are, the best course of action is to find a real estate agent who understands how to transform those objectives into reality by using current markets trends to your advantage.
Customization: the key to real estate market success
Real estate market numbers are critical to understanding the market; but the implications of those numbers will vary greatly from one homeowner to the next. As an experienced La Jolla real estate agent, I specialize in customizing my expertise and understanding of market statistics to serve my clients’ unique goals. You tell me your objectives, and I will tell you what the numbers mean for you – and how to use them to build a secure future.
To learn more about decoding the latest La Jolla real estate trends, or to schedule a custom consultation, contact me, Vicki Johnson, at (619) 559-2638, or visit me online today: www.vrjrealestate.com.
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