I said: 0% appreciation for NSDCC (La Jolla to Carlsbad) in 2023.
Zillow says: +1.5% to +1.9% for NSDCC.
Goldman Sachs says: -1% for San Diego.
Moody’s has San Diego County home prices changing –3.65% between now and the end of 2023, and then -2.9% by the end of 2024.
What do you say?
Hat tip to shadash for sending this in:
https://finance.yahoo.com/news/home-prices-fall-goldman-sachs-expects-104729829.html
I expect more like a 4-5% drop but NOT because of price declines but rather shifting product quality. Sellers aren’t going to fluff and polish for the last $40-80k of sales price choosing instead to use a lower price as a selling point.
I wouldn’t rely too much on Goldman’s forecast.
Google what their “prediction” was for 2022 (in late 2021/early 2022)
Like many pundits both inside and outside the RE market claimed, the skies were going to be nothing but blue, blue, blue.
Goldman doesn’t know anything more than the rest of us; they just have a better brand name.
Agreed. The only people who know and can accurately predict the future are the doomers!