Here is Bill’s second look at the active inventories with more metros added. It is incredible how inventory is exploding elsewhere, yet San Diego has fewer homes for sale now than during last year’s uber-frenzy.
The Atlanta metro population is 6,144,050 which is almost double ours….but they have 5x the inventory!
It should open up more opportunities for San Diego homeowners to sell at record prices (or close), and cut good deals out-of-state. Metros that have 2x the inventory YoY should be ripe for 10% to 20% discounts.
If you don’t want to leave San Diego, and you’d like to downsize into a newer one-story that isn’t too big that’s centrally-located in a gated senior community where the residents are younger and have plenty of activities – including a vibrant pickleball community – check out Auberge!
It’s located in the middle of the Santaluz, The Crosby, and Fairbanks Ranch triangle!
I’ve sold three in here and people love how the majority of residents are younger seniors so it doesn’t feel like God’s waiting room. This model is 3br/2ba, 1,553sf and it listed for $1,550,000. It sold the first week and just closed for $1,500,000 cash.
Welcome home to Auberge, an upscale 55+ luxury gated community boasting modern floor plans and great amenities including pools, parks, pickle ball courts, trails, clubhouse, spa, fitness center, dog park, and bbq areas. Auberge is a very social community that holds many fun events and activities. This beautifully upgraded, absolutely immaculate and tastefully designed single-story house offers an open floor plan, a gourmet kitchen with granite counter tops, stainless steel appliances, two car garage, and cozy, professionally landscaped private backyard with outdoor waterfall wall.
Or if you would leave the USA, here are some ideas around the world:
Bankrate ranked 50 metro areas across four broad categories: housing prices in relation to local wages; the tightness of the local housing market; the employment picture; and wellness and culture. Based on that scoring, the top areas are:
1. Austin: This metro area’s job market is booming, and it ranks first in that category. Austin also placed second in market tightness and near the top in wellness and culture. It lags in just one area: affordability. With a median home price of $565,000 as of September, according to Redfin, Austin can be a challenging market for young buyers looking for a starter home.
2. Kansas City: The Kansas City metro area ranked No. 3 in affordability and No. 11 in market tightness. However, its ranking was pulled down by middle-of-the-pack showings in job market and wellness and culture.
3. Raleigh: Raleigh ranks No. 1 in market tightness, or lack thereof. In this category, Bankrate graded metro areas by how many homes were for sale compared to a year ago, and how quickly those homes sell. In the other three categories, the Research Triangle region (which includes nearby Durham and Chapel Hill) ranked outside the top 10, but still above average.
4. Minneapolis: The Twin Cities region placed fifth in the labor market category, thanks to a low unemployment rate, strong job growth and short commutes. While it didn’t dominate in any other category, the metro area performed well overall, posting top 20 finishes in wellness and affordability.
5. Jacksonville: This northern Florida metro area placed in the top 10 in both the job market category and in housing market tightness.
Worst metro areas for first-time buyers in 2023
At the bottom are a group of five metro areas with steep home prices and tight housing markets:
46. Riverside: California homebuyers who are willing to move inland can get a house for hundreds of thousands of dollars less than they’d spend in a beachside city like San Diego. One trade-off is long commute times, which pulled Riverside down in our rankings. Lower incomes compared to coastal Southern California also make affordability a challenge.
47. San Diego: San Diego ranked 49th out of 50 in affordability, easily offsetting its No. 4 ranking in wellness and culture.
48. New York City: The largest metro area in the U.S. had back-of-the-pack showings in Bankrate’s job market and affordability categories. The lone bright spot was a No. 3 showing in wellness and culture.
49. Boston: Boston came in 46th in affordability, and its rankings in the other three categories were in the middle of the pack.
50. Washington, D.C.: The nation’s capital ranks 44th in job market, a result of weak job growth and long commutes. In another poor showing, D.C. ranks 39th in market tightness. Its only top 10 finish came in wellness and culture.
Ok, ok – North Carolina is too far, and Arizona is too hot. How about moving to Mexico?
Mexico is the ultimate vacation destination, with thousands of miles of beaches, mouthwatering cuisine, fascinating culture, and traditions steeped in thousands of years of history. But our southern neighbor has become increasingly popular with digital nomads and expats, too, due to its affordable cost of living and health care, warm weather, reasonably priced housing and low property taxes, and stable economy. In 2022, a record number of Americans relocated to Mexico, with Mexico City as a top destination.
Read on for eight of the best and most welcoming places to relocate to in Mexico for safety, economic opportunities, and a wealth of recreational activities.