Growth of U.S. economy tempered by housing recovery, experts say

Real estate economy in La Jolla

Real estate economy in La Jolla

By Joan Schultz

Economists at the University of California, Los Angeles are predicting a big comeback in the U.S. economy due in part to home sales with California setting the pace. Experts say the Golden State is slated to recover significantly as real estate sales become a larger piece of the economic pie.

The UCLA quarterly Anderson Forecast released earlier this month predicts that 2013 will be a year of significant growth and increased momentum when it comes to real estate turnover.

David Shulman, a senior economist with the Anderson Forecast added that the U.S. economy “seems poised for real growth” despite so-called head winds such as federal budget cuts that have dampened its initial outlook for the year.

“Most of the negatives will actually be negated,” he said. “It’s not an apocalypse as the president suggests.”

As for the outlook on U.S. housing, namely that of California, UCLA economists say housing will continue to increase its momentum.

“Housing led the downturn,” Shulman wrote. “It is now leading the upturn.”

So what can buyers expect in La Jolla? With a rapidly growing interest in real estate, inventory issues will start to become a factor in finding the perfect home.

What to know about real estate buying in La Jolla

Real estate inventory in La Jolla is currently low, with a pent up demand by buyers.

We are seeing 3-5 offers on a property that is well priced. Buyers are ready to move as soon as their ideal home comes on the market. Right now, we are seeing listings sell within hours with multiple offers if the property is priced correctly. Pricing correctly is the key.

Understanding how to price your home can lead to a great sales price coupled with a fast turnaround and close of escrow. One of the first steps in determining price is to locate market comparables in your area. For a free analysis of your home including market comps, give me a call at 858-551-7218.

For buyers running into inventory issues, call me and we can discuss strategies on securing the perfect home for your preferred location and budget. It all starts with a real estate agent specializing in the La Jolla area with the experience to put you in the home of your dreams.

For more information on buying or selling your La Jolla real estate, log onto

Related posts:

  1. San Diego Buyer’s Market: ‘The Deal of a Lifetime’
  2. Skin disorders, #1 reason for doctor’s visits in America
  3. San Diego home prices on the rebound
  4. La Jolla luxury home values and buyer confidence in full upswing
  5. Self-driving car technology approved for road use in California

Short URL:

Posted by Social Media Staff on Mar 25, 2013. Filed under Columns, Joan Schultz, Sponsored Columns. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.

Leave a Reply

Bottom Buttons 1

Bottom Buttons 2

Bottom Buttons 3

Bottom Buttons 4

Bottom Buttons 5

Bottom Buttons 6

RSS North Coastal News

  • Leave no one behind in Alzheimer’s research July 30, 2014
    Today in the U.S., more than 5 million people are living with mild to moderate Alzheimer’s disease. According to a 2009 study by the Alzheimer’s Association, of those 5 million people, more than 500,000 live in California. As we live longer, rates of Alzheimer’s disease have grown dramatically, and the disease is now cited as the third leading cause of death […]
  • SD Foundation announces $47M in grants, names new board members July 29, 2014
    The San Diego Foundation today announced it granted $47 million to nonprofit organizations in fiscal year 2014. Since its inception, the foundation has granted $880 million to serve and improve the San Diego region. […]
  • SD Surf Academy Condliffe GU11 win Albion Cup July 29, 2014
    San Diego Surf Academy Condliffe GU11 won the Albion National Soccer Cup championship, held July 18-21 in San Diego. […]