The Greater San Diego Association of REALTORS® (SDAR) and SDAR’s International Real Estate Committee are excited about a significant rebound in activity by foreign real estate buyers and how this trend has huge implications for San Diego real estate professionals.
In a memo to SDAR International Real Estate Committee members, David Martin, SDAR’s Director of Advocacy, Commercial and International Strategy, cited a National Association of REALTORS® (NAR) report that said the number of existing U.S. homes purchased by foreign buyers has increased for the first time since 2017, signaling a turning point for international interest in the U.S. real estate market.
According to the NAR report, the number of properties purchased by international buyers (78,100) has surged 44% year-over-year. Also, total dollar volume from international transactions has risen to $56 billion, marking a 33% increase year-over-year. The report reflected NAR members’ transactions with international clients who purchased and sold U.S. residential property between April 2024 and March 2025.
This trend indicates an opportunity for real estate agents to leverage global referrals, international community networks, and personal connections to facilitate business relationships and strengthen ties, ultimately facilitating deals, said SDAR’s Martin.
“We’re seeing a real resurgence in foreign buyer activity, and it's energizing the international real estate landscape here in San Diego and across the U.S.,” Martin said. “With nearly 60% of international purchases made entirely in cash and California among the top destinations, it’s clear that global confidence in our market is growing. This momentum is an incredible opportunity for our members to expand their reach and connect with international clients in meaningful ways.”
"According to NAR, foreign buyers are drawn to the U.S. because many metro areas are relatively affordable when compared to global city centers. But affordability is not the only factor. Foreign buyers are drawn to investing in U.S. real estate because of our country’s strong protection of private property rights.
“International interest in buying U.S. real estate increased following the global economic recovery from several years of pandemic-related disruptions,” says Lawrence Yun, NAR Chief Economist.
Martin outlined a few key points from the NAR report:
Foreign buyers are paying more because they tend to lean heavily into the upper end of the market. The median purchase price among international buyers was $494,400, which was higher than the median price for the overall existing-home buyer purchase of $408,500.
Cash is king. International buyers are more likely to use cash to complete their purchases. Nearly half (47%) of foreign buyers paid all cash, a huge contrast to just 28% among all U.S. existing homebuyers.
Asian buyers remain the largest group of international purchasers of U.S. real estate, comprising a 38% market share.
China regained its position as the top country of origin among foreign buyers in U.S. real estate, accounting for 15% of international buyer purchases, nudging out Canada as the previous year’s top origin country. The country-of-origin ranking and dollar amount of transactions for foreign buyers of U.S. real estate included: China, 15%, $13.7 billion; Canada, 14%, $6.2 billion; Mexico, 8%, $4.4 billion; India, 6%, $2.2 billion; United Kingdom, 4%, $2.2 billion.
Bloomberg News said NAR’s data shows that Chinese buyers are brushing aside concerns over U.S.-China geopolitical tensions and tighter visa policies. Instead, they are actively seeking overseas assets as a hedge against China’s economic slowdown following years of regulatory crackdowns on the private sector.
California remains a top destination, second only to Florida, which offers more housing inventory. Florida has been the top destination for foreign home buyers for the past 15 years. California overtook Texas this year as the second-most popular U.S. designation, accounting for 15% of purchases. The ranking for most popular U.S. states for international buyers included: Florida, 21%; California, 15%; Texas, 10%; New York, 7%; Arizona, 5%.
More U.S. real estate pros are working with international buyers. According to NAR, 20% of practitioners who identify as realtors reported working with at least one international client over the past year, up from 15% the prior year. Of the real estate agents who worked with foreign buyers, 72% said their leads came from personal contacts, referrals and business relationships.
Foreign buyers have more spending power. Nearly 1 in 5 foreign buyers (18%) purchased properties for more than $1 million, often in metropolitan, high-demand areas. Chinese buyers have the highest average purchase price at $1.2 million and continue to target mostly high-cost states, including California, Maryland, New York and Hawaii. Chinese buyers bought 11,700 homes during the period, almost double the number from the previous year. Mexican buyers had the second-highest average purchase price at $705,300.
Foreign buyers are focused on vacation and investment properties. Nearly 50% of international buyers purchased homes for vacation use, rental income, or both, significantly higher than the 16% of domestic buyers who did the same.
Foreign buyers have diverse property preferences. While 63% of international buyers purchased detached single-family homes, they also showed high interest in condos (especially Canadians, who sought a vacation home or residential rental) and residential land (especially Mexican buyers).
So, what does NAR’s report mean for San Diego regional real estate pros?
According to SDAR’s Martin, “It’s a clear opportunity to position our members and our region as international real estate leaders. We should continue supporting international education, outreach, and events to attract global investment to San Diego. And, we need to equip members with the tools to connect and close with these high-value, often cash-ready clients. Let’s keep promoting our international work, it’s making a difference, and the market is telling us there’s more to come.”
San Diego, CA — The San Diego Association of REALTORS® (SDAR) is alerting real estate professionals and property owners to a new CalFire defensible space inspection fee, which may impact certain transactions in San Diego County. As of June 2025, CalFire has implemented a $181/hour inspection fee, but this charge applies only to properties within two specific fire protection districts:
San Diego County Fire Protection District
Deer Springs Fire Protection District
This fee does not apply to other incorporated cities or unincorporated fire jurisdictions within the county.
1. Properties Subject to the Fee:
Single-Family Detached Homes: Not subject to the fee
Single-Family Attached (Condos): Fee applies only to condo complexes, not individual units
Apartment Complexes: Fee applies to complexes, not individual units
2. When the Fee is Charged:
Starts upon arrival at the inspection site
Does not include travel time to or from the location
Includes time spent on the property and related administrative work, such as scheduling, drafting reports, and conducting reinspections if needed
To determine if a property falls within one of the two affected districts, SDAR encourages REALTORS® and homeowners to consult the official maps:
For further clarification about how the fee is assessed, CalFire has provided a helpful FAQ, available here:
https://www.sandiegocounty.gov/content/dam/sdc/sdcfa/documents/prevention/Inspection%20Fees%20Q%20and%20A%20-%20Website.pdf
“We encourage our members to stay informed and guide their clients accordingly, especially when navigating transactions in areas impacted by these new requirements,” said the San Diego Association of REALTORS®.
For more information, please contact SDAR at (858) 715-8000 or [email protected].
SAN DIEGO, July 16, 2025 /PRNewswire/ -- AssumeList™, the nation's leading platform for discovering homes with assumable low-rate mortgages, has officially partnered with the San Diego Association of REALTORS® (SDAR) to provide exclusive benefits to SDAR's real estate professionals. As part of the partnership, SDAR members will receive discounted access to AssumeList's subscription platform along with specialized training to help their clients save thousands in interest amid today's high-rate environment.
With mortgage affordability posing a growing challenge, this collaboration provides SDAR members with a powerful tool to help buyers take advantage of assumable mortgage opportunities and assist sellers in marketing homes with attractive financing terms. The partnership reflects a shared commitment to innovation, client service, and market advantage.
"At SDAR, we're always seeking out tools that give our members and our home buyers and sellers a competitive edge," said Chris Anderson, President of the SDAR Board of Directors. "AssumeList™ is that edge—providing unique financing options that help REALTORS® serve their clients more effectively in a challenging housing market."
"We're thrilled to welcome SDAR as a partner," said Michael Lorino, founder and CEO of AssumeList™. "Our mission is to make assumable mortgages easy to find and close. With SDAR's reach and leadership in real estate advocacy and service, this partnership will empower more agents to close deals faster while saving their clients money."
Exclusive Benefits for SDAR Members Include:
Discounted subscription to the AssumeList™ platform
Access to a growing database of assumable listings nationwide
Connections to lenders who specialize in second mortgages for assumptions
Transaction management support for 30–45 day closings
Daily training and ready-to-use client education materials
SDAR members can explore their exclusive access at: https://assumelist.com/SDAR. The discount offered to SDAR members is the lowest available nationally. Agents who are members of a different REALTOR® association can take advantage of this offer by becoming a secondary member of SDAR at a deeply discounted price.
About the San Diego Association of REALTORS®
The San Diego Association of REALTORS® (SDAR) is the largest trade association in San Diego County and one of the largest REALTOR® associations in California, representing more than 11,000 real estate professionals. SDAR is committed to advancing the industry through education, advocacy, innovation, and the protection of private property rights while helping members succeed and better serve their home buying and selling clients.
About AssumeList™
Founded in 2023, AssumeList™ is the only platform in the U.S. offering access to both on-market and off-market homes with assumable VA, FHA, and USDA mortgages—most featuring interest rates below 3.5%. Now available in 24 states and growing, AssumeList™ helps agents, buyers, and sellers simplify the assumption process through live training, expert guidance, and access to tools that close deals faster and more affordably.
Media Contact:
Nora Simpson
Email: [email protected]
Phone: (703) 552-5465
SAN DIEGO, Calif. (June 16, 2025) — The Greater San Diego Association of REALTORS® (SDAR) reports that the overall median sales price for residential properties in San Diego County reached $900,000 in May 2025, marking a 2.9% increase over the previous month.
In its latest residential real estate market update, SDAR states that the median price for an existing, single‑family detached home stood at $1,100,000 in May—a 0.9% increase compared to April 2025. Monthly median prices for detached homes have steadily risen from $1,010,000 in December 2024 to $1,100,000 in May 2025, highlighting sustained growth in the market.
For attached homes, including townhomes and condominiums, the median price rose 1.1% to $690,000, up from $675,000 in April and $679,950 in March.
The property type with the largest price gain in May was single-family homes, where the median jumped 4.5% to $1,050,000.
Market Highlights – May 2025:
Fastest-selling price range: $1.25 M–$2 M (32 days on market)
Slowest-selling price range: Over $5 M (61 days on market)
Largest sales volume gain: Homes priced under $250,000 (up 27.8%)
Closed sales: Decreased 6.9% for detached homes; decreased 14.0% for attached homes month-over-month
Inventory: Rose 34.6% overall compared to April; detached home inventory up 25.6%
Biggest inventory increase: Condos and townhomes (up 49.8%)
Housing supply index: 2.9 months for single‑family homes (up from 2.6 in April), 3.7 months for attached homes (up from 3.4)
Pending sales (June 2024–May 2025): Up 3.6% year-over-year
Monthly pending sales: Down 3.7% for detached homes; down 9.0% for attached homes
Largest pending sales growth by home size: Homes between 3,001–4,000 sq ft (up 8.4%)
“The market is showing a strong upward trend in pricing, especially in the detached home segment,” said Chris Anderson, 2025 President of the Greater San Diego Association of REALTORS®. “While closed and pending sales dipped slightly last month, inventory continues to improve, giving buyers more options in a still‑competitive environment.”
The housing supply index, which reflects how long it would take to sell the current inventory at existing sales rates, rose in May. For single‑family homes, supply increased to 2.9 months, while attached homes reached 3.7 months—both signaling a gradual shift toward a more balanced market.
For more detailed market statistics and analysis, visit www.SDAR.com.
Media Contact:
Kelly Christensen
Chief Marketing Officer, The Greater San Diego Association of REALTORS®
[email protected] | (858) 715‑8000
Meetings took place during the 2025 REALTORS® Legislative Meetings
[San Diego, CA,] (June 9, 2025) – During the 2025 National Association of REALTORS® Legislative Meetings, more than a dozen members of the San Diego Association of REALTORS® (SDAR) met with members of Congress in Washington, D.C., to advocate for policies that will increase the housing supply and improve access to homeownership.
Members of the San Diego Association of REALTORS® met with Congressman, Darrell Issa, Congressman, Juan Vargas, Congressman Scott Peters to discuss:
Private property rights
Building housing supply and opportunity for all
Support for self-employed professionals
How NAR research products show the impact of real estate on the economy and the vital role it plays for consumers
The importance of property ownership in building safe, resilient communities
“Real estate represents nearly one-fifth of the United States’ GDP. The meetings on Capitol Hill were an opportunity for SDAR to talk directly with lawmakers about the positive impact REALTORS® have in local communities and for the broader economy,” said 2025 SDAR President, Chris Anderson.
NAR and SDAR policies that will address the estimated 4.7 million home shortage in America. Increasing the supply of housing, easing market constraints, and making it easier for Americans to find homes they can afford will stabilize prices, revitalize communities, and support the American Dream of homeownership.
“Homeownership builds generational wealth, but a 4.7 million home shortage threatens middle-class prosperity. The members of Congress we met with were receptive to our ideas and appreciated that REALTORS® are hard-working entrepreneurs who make the American Dream of homeownership possible,” added Anderson.
NAR, and state and local associations organized the meetings on Capitol Hill as a part of their advocacy efforts on behalf of the real estate industry.
The San Diego Association of REALTORS® is the largest trade association in San Diego County, representing over 10,000 real estate professionals dedicated to advancing the real estate industry, protecting private property rights, and supporting homeownership. Founded in 1878, SDAR provides its members with comprehensive resources, including professional development, legislative advocacy, industry-leading tools, and access to San Diego’s regional MLS. As a trusted voice for real estate in the region, SDAR serves as a central hub for education, ethics, and community engagement.
The National Association of REALTORS® Board of Directors concluded the REALTORS® Legislative Meetings in Washington, D.C., Thursday with full-throated support for NAR’s stance opposing harassment. Directors debated whether to pass clarifying language to a Code of Ethics Standard of Practice prohibiting such harassment, and those on both sides of the debate expressed passionate support for the standard and the importance of professionalism in any setting. During the discussion, concerns were raised about the impact on enforcement, legal challenges, and the overall reputation of the REALTOR® brand. In the end, the recommendation passed by a significant margin.
The change, which went into effect immediately, clarifies language in NAR’s Code of Ethics Standard of Practice 10-5, which prohibits harassment of any person or persons protected under Article 10 of the Code. A day earlier, the Executive Committee approved another Professional Standards change, revising language for Policy Statement 29 designed to ensure state and local associations can fairly and consistently enforce the Code of Ethics.
Read the revised Code of Ethics and Standards of Practice.
San Diego, CA — [Monday, May 19, 2025] — The Greater San Diego Association of REALTORS® (SDAR) Board of Directors is dedicated to the highest standards of ethical leadership, member service, and community impact.
After thoughtful consideration, SDAR’s CEO, Tessa Hultz, is transitioning from her leadership role with SDAR. We extend our sincere appreciation to Tessa for her contributions during her time with SDAR and wish her the best in her future endeavors.
SDAR and its mission remain ably managed by an outstanding senior leadership team led by COO Aruna Seegolam, along with the continued support of SDAR's dedicated Board of Directors.
“We remain focused on delivering meaningful value to our 10,000+ members, advocating for private property rights, and upholding the highest standards of professionalism and ethics in real estate,” said Chris Anderson, 2025 President of the San Diego Association of REALTORS®. “We appreciate the continued trust and support of our members as we move forward together with purpose and optimism.”
Questions? Reach out to our media contact below.
Media Contact:
Kelly Christensen
SDAR Marketing & Communications Department
[email protected] | (858) 715-8000
Sales of previously owned homes pulled back in September, while median prices barely moved. Data on the current resale market is compiled by the Greater San Diego Association of REALTORS® (SDAR) through the San Diego Multiple Listing Service (SDMLS).
Single-family home sales fell by nearly 14 percent month-over-month but were more than 8 percent higher than September a year ago. Condominiums and townhomes (attached properties) saw a deeper drop of 22 percent in September compared to the previous month and were nearly 5 percent less than a year ago. Resale properties were closing escrow in an average of 34 days, compared to 25 days a year ago.
Read more.
Sales of previously owned homes pulled back in September, while median prices barely moved. Data on the current resale market is compiled by the Greater San Diego Association of REALTORS® (SDAR) through the San Diego Multiple Listing Service (SDMLS).
Single-family home sales fell by nearly 14 percent month-over-month but were more than 8 percent higher than September a year ago. Condominiums and townhomes (attached properties) saw a deeper drop of 22 percent in September compared to the previous month and were nearly 5 percent less than a year ago. Resale properties were closing escrow in an average of 34 days, compared to 25 days a year ago.
Read more.
Heading into the fall season, sales of single-family homes in San Diego County slowed in August, while attached property sales rose slightly. Data on the current resale market is compiled by the Greater San Diego Association of REALTORS® (SDAR) through the San Diego Multiple Listing Service (SDMLS).
Resale purchases of single-family homes fell by 8 percent in August, compared to July. That’s in contrast to sales of condominiums and townhomes (attached properties) which rose 3-and-a-half percent from the previous month. The one-year change in closed sales for all properties amounts to a drop of just over 2 percent.
Read more.
Heading into the fall season, sales of single-family homes in San Diego County slowed in August, while attached property sales rose slightly. Data on the current resale market is compiled by the Greater San Diego Association of REALTORS® (SDAR) through the San Diego Multiple Listing Service (SDMLS).
Resale purchases of single-family homes fell by 8 percent in August, compared to July. That’s in contrast to sales of condominiums and townhomes (attached properties) which rose 3-and-a-half percent from the previous month. The one-year change in closed sales for all properties amounts to a drop of just over 2 percent.
Read more.
Home sales in San Diego County ticked back up in July after a slower June, while prices continued a slowing trend. Data on the current resale market is compiled by the Greater San Diego Association of REALTORS® (SDAR) through the San Diego Multiple Listing Service (SDMLS).
Resale single-family home purchases were up nearly 9 percent in July compared to June, and condominiums and townhomes (attached properties) rose by almost 7 percent from the previous month. Compared to July of 2023, single-family home sales increased just over 7 percent, while closings for attached homes were nearly unchanged.
Read more.
Real estate broker and agent practice changes are coming or may already be in place. This site will help you, the REALTOR®, with answers to your questions, and allow you to be prepared to answer questions from your seller or buyer client, or other agents in the field. The focus will not be on the reasons for the changes, but rather how you can comply and compete in the new real estate marketplace.
Read more. (requires C.A.R. login)
For one-page "quick guides" of the key issues to working with buyers and sellers during the transitional period, click here.
Sales of previously owned homes slowed in June after rising since the beginning of the year. Data on the current resale market is compiled by the Greater San Diego Association of REALTORS® (SDAR) through the San Diego Multiple Listing Service (SDMLS).
The number of sales of single-family homes in June were down 11 percent over May, and about 5 percent from June of 2023. Sales of attached properties (condominiums and townhomes) saw a deeper drop of 16 percent month over month. The supply of homes for sale continue to improve from a year ago, up more than 44 percent.
Read more.
Every June, C.A.R. updates its standard forms to reflect the latest legal requirements and best practices in real estate transactions. This week, we released 48 new and revised forms to help you work with your clients and transactions. Originally, 67 forms were scheduled for release, but 19 of them related to the changes in business practices required by the NAR settlement have been postponed. C.A.R. will make those additional forms and relevant education available prior to August 17.
C.A.R. is continuing to review not just the NAR settlement but also Department of Justice (DOJ) statements to the industry, as well as feedback from our members. C.A.R. has received a formal inquiry about these forms from the DOJ, and the organization requires additional time to consider the DOJ’s concerns.
Read more.
The number of sales of previously owned homes saw another gain in May, while median prices were nearly unchanged. Data on the current resale market is compiled by the Greater San Diego Association of REALTORS® (SDAR) through the San Diego Multiple Listing Service (SDMLS).
Single-family (detached) sales last month increased by 4.4 percent, and attached properties (condominiums and townhomes) jumped more than 7 percent month-over-month. Compared to last year, existing home sales dipped somewhat; however, the supply of homes on the market is more than 50 percent higher than last year at this time.
Read more.
Sales of single-family existing homes in San Diego County continued to rise in April, while attached home sales dipped. Data on the current resale market is compiled by the Greater San Diego Association of REALTORS® (SDAR) through the San Diego Multiple Listing Service (SDMLS).
The market for previously owned single-family (detached) homes in April grew by more than 5 percent compared to March, and nearly 6 percent over April of 2023. Attached properties (condominiums and townhomes), on the other hand, dipped slightly by 2 percent month-over-month, and were down about 1 percent from a year ago.
Read more.
On April 23, the U.S. District Court for the Western District of Missouri granted preliminary approval of the National Association of REALTORS®’ proposed settlement agreement that would end litigation of claims brought on behalf of home sellers related to broker commissions.
Plaintiffs filed a motion last Friday for preliminary approval of the settlement agreement in the Western District of Missouri. The court acted quickly to preliminarily approve the motion, calling the agreement “fair, reasonable and adequate.” The plaintiffs’ filing initiated the 60-day period during which all REALTOR®-owned MLSs, brokerages with total residential transaction volume above $2 billion in 2022 and non-REALTOR® MLSs that want to be covered by the settlement must act. The deadline to submit the opt-in agreements is June 18.
Read more.
Home sales in San Diego County improved in March, evidence of a warming spring selling season despite a dearth of inventory of homes on the market. Data on the current resale market is compiled by the Greater San Diego Association of REALTORS® (SDAR) through the San Diego Multiple Listing Service (SDMLS).
Single-family home sales in March were more than 13 percent higher than February, and sales of attached properties (condominiums and townhomes) were up more than 5 percent. Year over year, however, sales of existing homes were down 11 percent for single-family and 7 percent for condos and townhomes.
Read more.
Sales of previously owned homes in San Diego County saw a welcome jump in February over the previous month, while sale prices continue their upward trend. Data on the current resale market is compiled by the Greater San Diego Association of REALTORS® (SDAR) through the San Diego Multiple Listing Service (SDMLS).
Single-family home sales in February rose by healthy 20 percent compared to January, and sales of attached properties (condominiums and townhomes) leapt up 24 percent. Sales of all property types were up almost 7 percent over February of last year, with attached homes leading the charge. The one-year change in homes for sale throughout the county was down only slightly.
Read more.
NAR has developed a new guide on written buyer agreements to support members as they prepare for and adapt to the upcoming practice changes following NAR's settlement agreement. Beginning Aug. 17, a buyer representative working with a buyer will be required to enter into a written agreement with the buyer prior to touring a home, including both in-person and live virtual tours. Share the guide, available at facts.realtor, with members.
For more information, click here.
For upcoming classes on the topic, click here.
Sales of attached properties in San Diego County, consisting mainly of condominiums and townhomes, saw a welcome pickup in January, while single-family homes sales dipped. Data on the current resale market is compiled by the Greater San Diego Association of REALTORS® (SDAR) through the San Diego Multiple Listing Service (SDMLS).
Resales of condos and townhouses increased by nearly 6 percent in January, compared to December, and were almost 12 percent higher than January of last year. Single-family purchases, on the other hand, were down 4 percent month-over-month, and 5-and-a-half percent lower than a year ago.
Read more.
As the impact from the unprecedented flooding in San Diego County subsides, the Greater San Diego Association of REALTORS® (SDAR) is reminding homeowners of how critical flood insurance is to helping protect your home and valuables.
SDAR has been a premier advocate for the preservation of funding of the National Flood Insurance Program (NFIP). The NFIP makes federally backed flood insurance available in communities that agree to adopt and enforce floodplain management ordinances.
Read more.
San Diego County home sales ended on a low note in December, closing out a year of fluctuating inflation and mortgage interest rates. Data on the current resale market is compiled by the Greater San Diego Association of REALTORS® (SDAR) through the San Diego Multiple Listing Service (SDMLS).
Sales of single-family homes were down more than 21 percent in December, compared to December 2022, and were lower by almost 9 percent from the previous month. Attached properties (condominiums and townhomes) saw a drop of 10 percent from a year ago, and nearly 14 percent from November. Sales inventory is possibly a silver lining, with the supply of homes reaching 3.5 months – representing the number of months it would take for current for-sale homes to sell, given a monthly sales volume.
Rear more.
Spencer Lugash has begun his term as the 2024 President of the Greater San Diego Association of REALTORS® (SDAR), leading the largest trade association in San Diego County with a diverse membership of 13,000 real estate professionals.
Read more.
The Greater San Diego Association of REALTORS® (SDAR) is pleased to announce the addition of industry-leading professional Saul Klein as the CEO and Director of the San Diego Multiple Listing Service (SDMLS). San Diego MLS stands as a separate entity wholly owned and operated by SDAR and is the only locally based MLS in San Diego County.
In this new role, Klein will spearhead daily operations, elevate the subscriber and participant experience, and propel SDMLS into the future as a leader in delivering invaluable real estate data to its brokers, agents, and consumers alike.
Read more.
The Commercial Real Estate Alliance of San Diego (CRASD), a subsidiary of the Greater San Diego Association of REALTORS® (SDAR), has been recognized with its second consecutive Diamond Commercial Services Accreditation from the National Association of REALTORS® (NAR).
NAR’s Commercial Services Accreditation is designed to assist REALTOR® associations to develop commercial services and recruit and retain commercial members in their market, and to acknowledge a commitment to providing commercial services and engaging commercial real estate members.
Read more.
With the holiday season in full swing, San Diego County home sales took another dive in November, according to the Greater San Diego Association of REALTORS® (SDAR) which compiles data on the current home sale market through the San Diego Multiple Listing Service (SDMLS).
Single-family resale home sales fell by more than 17 percent in November, compared to October, while attached properties (condominiums and townhomes) were nearly 15 percent lower than the previous month. The median price of single-family homes ticked up by 2 percent in November to $980,000, which is more than 11 percent higher than a year ago.
Read more.
SDAR was recently recognized as a recipient of the Gold Council through the National Association of REALTORS® Global Achievement Program. This program recognizes over 130 of the country’s leading REALTOR® associations for bringing global business awareness to their members.
SDAR’s International Real Estate Committee (IREC), featured a year of many industry defining events and programs that provided San Diego REALTORS® with unprecedented education and event access. In recent months, the department has hosted a Global Connections event at the Balboa Park International Cottages. This event welcomed numerous Mexican and American political leaders to provide economic and international updates on one of the United States’ most important cross-border relationships.
Read more.
Prices of resale homes in San Diego County generally maintained their value in October, while home sales continue to drop, according to the Greater San Diego Association of REALTORS® (SDAR) which compiles data on the current home sale market through the San Diego Multiple Listing Service (SDMLS).
Home prices remain about 10 percent higher than a year ago, with the median price of single-family detached properties standing at $964,000 and attached properties (condominiums and townhomes) at $667,500. Compared to the previous month, resale prices of single-family homes were down 3.6 percent, while prices of attached homes were up just over 1 percent.
Read more.
For most home buyers, the purchase of real estate is one of the largest financial transactions they will make. Buyers purchase a home not only for the desire to own a home of their own, but also because of changes in jobs, family situations, and the need for a smaller or larger living area. This annual survey is conducted by the National Association of REALTORS® of recent home buyers and sellers.
This report examines:
Characteristics of Home Buyers
Characteristics of Homes Purchased
The Home Search Process
Home Buying and Real Estate Professionals
Financing the Home Purchase
Home Sellers and Their Selling Experience
Home Selling and Real Estate Professionals
For Sale by Owner (FSBO) Sellers
A class-action lawsuit against the National Association of REALTORS® (NAR) challenged the common practice of listing brokers making offers of compensation to buyer brokers in local MLS broker marketplaces as contractually agreed upon by their sellers.
In response to this week’s jury verdict in the Sitzer/Burnett v NAR et al case, NAR has made it clear it will appeal the verdict and continue to pursue consumers getting comprehensive, equitable, transparent, and reliable home information.
We will keep you informed about this case and other new and existing cases, including a new class action case already filed by Plaintiff’s attorneys following the Sitzer/Burnett v NAR et al verdict. We will work with members to minimize disruption to our industry regardless of the final outcome.
Read more.
A class-action lawsuit against the National Association of REALTORS® (NAR) challenged the common practice of listing brokers making offers of compensation to buyer brokers in local MLS broker marketplaces as contractually agreed upon by their sellers.
In response to this week’s jury verdict in the Sitzer/Burnett v NAR et al case, NAR has made it clear it will appeal the verdict and continue to pursue consumers getting comprehensive, equitable, transparent, and reliable home information.
We will keep you informed about this case and other new and existing cases, including a new class action case already filed by Plaintiff’s attorneys following the Sitzer/Burnett v NAR et al verdict. We will work with members to minimize disruption to our industry regardless of the final outcome.
Read more.
The number of resale homes that closed escrow in September in San Diego County dropped significantly month-over-month, according to the Greater San Diego Association of REALTORS® (SDAR) which compiles data on the current home sale market through the San Diego Multiple Listing Service (SDMLS).
Single-family detached properties were down nearly 23 percent in September compared to August, as a slow summer buying season ended even more slowly. Sales of attached properties (condominiums and townhomes) fell by 20 percent over the previous month.
Read more.
Congress recently approved a continuing resolution to fund the government for 45 days, including an extension of the National Flood Insurance Program (NFIP) through November 17. With nearly 5 million property owners nationwide who rely on the NFIP for flood insurance, an extended lapse would threaten 1,300 real estate transactions each day.
Help protect our industry by urging your members of Congress to protect the NFIP so we can return to working on long-term reauthorization and needed reforms to this crucial program.
Take Action.
Congress recently approved a continuing resolution to fund the government for 45 days, including an extension of the National Flood Insurance Program (NFIP) through November 17. With nearly 5 million property owners nationwide who rely on the NFIP for flood insurance, an extended lapse would threaten 1,300 real estate transactions each day.
Help protect our industry by urging your members of Congress to protect the NFIP so we can return to working on long-term reauthorization and needed reforms to this crucial program.
Take Action.
SDAR currently is seeking application from members to serve as volunteers for its many committees for the year 2024.
By serving on a committee you serve one of California’s most progressive and visionary associations and help shape the future of SDAR and our local industry. You'll also develop working relationships and friendships with other industry leaders who serve our industry. To serve, you must be a REALTOR® or Affiliate member in good standing and be willing to share your opinions with others.
Learn more about the various SDAR committees and submit your application today! Read more and apply.
The median price of a single-family home in San Diego County topped out at $1,025,000 in August, up more than 3 percent in August, compared to July, and 13.5 percent higher than one year ago.
Attached home prices (condominiums and townhomes) were up nearly 6 percent month-over-month, hitting a new high of $677,000, which is almost 9 percent higher than a year ago.
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Median prices of resale homes remain near record highs, comparing July 2023 data to the same month last year. That’s despite a drop in home sales.
In July, the median price of a detached single-family home was up 3.6 percent to $990,000, and for detached homes (condominiums and townhomes) the price was up 2.6 percent to $641,000. For the year-to-date, prices are virtually unchanged from a year ago.
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On Wednesday, July 26, the Federal Reserve again decided to raise interest rates for the 11th time in 17 months in a continuing effort to counter inflation. Even though the hike bumped interest rates from 5.1% to 5.3%, the actual impact on the mortgage rates should be minor, at most.
While the federal reserve’s interest rates do play an important role in determining mortgage rates, they are independent of one another, and mortgage rates are created from a combination of financial markets and individual application details.
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Despite temperatures heating up, San Diego home sales cooled down in June, compared to May. Single-family and attached home resales were down about 10 percent month-over-month in June, and are down about 26% compared to June of 2022, as fluctuating mortgage rates and a near all-time low level of inventory continue to influence sales.
The median price of single-family homes in the county rose to $1 million in June, for only the second time in history.
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The City of San Diego’s Residential Tenant Protection Ordinance officially went into effect on June 24, giving more assistance to renters by placing additional burdens on housing providers. While the measure was aimed at combating homelessness and the high cost of housing, the new restrictions on housing providers could further depress supply in the rental housing market.
SDAR joined the California Apartment Association and other local housing providers in opposition to the measure due to the infringement of private property rights and the detriment to San Diego’s already low housing supply.
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The Greater San Diego Association of REALTORS® (SDAR) comes out in strong opposition to legislation that would impose a 15% tax on owners of short-term rentals, as it would directly harm hard-working families and any individuals that operate short-term rentals for profit. SDAR stands in defense of property rights and believes that a short-term rental tax would weaken the tourism industry and the small businesses that rely on tourism to survive.
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Over recent months, the state of California has seen two major private homeowner insurance companies leave the state due to increased insurance costs over price hikes in high-risk areas and elevated construction costs. SDAR comes out strongly against this mass homeowner insurance exodus. While it is necessary to note that current customers will not lose their insurance, this decision will make it even harder for first-time homebuyers to enter the market.
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Sales of existing homes returned to positive territory in May after a slower April. Single-family home sales were up more than 13 percent in May, compared to April, and sales of attached properties (condominiums) were up nearly 10 percent. However, in perspective, sales of all existing properties are down 28 percent compared to 2022. Median prices in May were virtually unchanged month-over-month.
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Did you know the housing shortage is costing California $140 billion per year1 and resulting in housing costs about 2.5 times the national average2? The California Association of REALTORS® launched "Housing for California", a campaign aimed at addressing the problem by encouraging lawmakers to advance measures to increase the housing supply. Learn more or sign on to support at: housingforcalifornia.com
After two months of a rise in home sales in San Diego County, buyers took a step back in April.
Sales of previously owned single-family (detached) homes in April were 13 percent lower compared to March, and attached properties (condominiums and townhomes) were 11 percent lower. The median price of detached homes ticked up in April to $952,600, an increase of 1 percent over March, but a nearly 5 percent fall from April of 2022 when single-family homes hit the $1 million mark for the first time in county history.
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Yes, you sell homes. But volunteers from your associations work hard to stay on top of upcoming legislation and get to work to help stop property tax increases, rent control, invasive land use policies, and attacks on your independent contractor status. We can’t afford to sit on the sidelines - its time YOU got involved!
Join the Women's Council of REALTORS on Thursday, April 13 to learn what you can do to be better equipped to be that trusted advisor for your clients. Our guests: San Diego County Assessor Jordan Marks; Frank Powell, SDAR President 2023; Mark Brett, SDAR Government Affairs Director; and Mike Shenkman, SDAR RPAC Chair.
The event is at the Admiral Baker Golf Ccourse from 11:30 a.m. to 1:30 p.m. Get your tickets today.
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For the second month in a row, sales and prices of existing homes rose in San Diego County.
Resale home sales jumped by 30 percent in March, and that’s the case for both single-family homes and attached properties (condominiums and townhomes). Tempering that fact is that sales are down 32 percent from March of 2022.
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Curious to know what Fair Housing Day is all about? The simple answer: to provide you with the tools and info needed to make the dream of homeownership a reality for more Californians.
From appraisal bias, fair housing in rentals, inclusive advertising and expanding homeownership opportunities for underserved communities; our handpicked innovators, researchers, advocates and policy experts will discuss all things fair housing with you on April 11!
Read more.
Curious to know what Fair Housing Day is all about? The simple answer: to provide you with the tools and info needed to make the dream of homeownership a reality for more Californians.
From appraisal bias, fair housing in rentals, inclusive advertising and expanding homeownership opportunities for underserved communities; our handpicked innovators, researchers, advocates and policy experts will discuss all things fair housing with you on April 11!
Read more.
A major win for the right of real estate licensees to be independent contractors was solidified on March 27.
The California Supreme Court refused to review Whitlach v. Premier Valley, the favorable California Court of Appeals published opinion allowing brokers and agents to choose to be independent contractors. Further, it dismissed the attempt of the plaintiff to file a class action.
This case will provide valuable direction and assistance to future judges and litigants, as well as potential arbitration or mediation participants. Moreover, it may provide explanation and guidance for thousands of real estate licensees throughout California.
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San Diego County is seeking input from residents to help shape the housing blueprint that will be adopted by the Board of Supervisors. The plan aims to aim to curb the region’s housing crisis by finding ways to build more housing, retain affordable housing, reduce prices, and help people afford to stay in their existing homes. The public survey is open for comment through March 31.
Read more.
Sales and prices of previously owned homes improved a bit in February from a historically slow January. Single-family (detached) home sales rose more than 10 percent last month, while attached properties (condominiums and townhomes) saw a surprising 19 percent rebound over January. However, sales are down dramatically from February of last year: 34 percent. Listings and pending sales of resale homes was also down significantly last month.
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SDAR is expanding its bilateral partnerships with real estate associations across Europe to create greater access for its members to do business beyond the regional market. In the past year, SDAR established partnerships with real estate associations in nine European nations to help maximize client growth for its members and build stronger ties to global real estate markets.
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The Supervisors adopted, by a 3-2 vote, a proposal that would limit future construction to 4,025 developable units on County lands, which is significantly fewer that the approximately 19,000-unit plan approved in 2020 by the previous Board of Supervisors. Of note, the County-assigned minimal target for housing developments, known as the Regional Housing Needs Assessment (RHNA), is 6,700 units. The adopted proposal would prevent the County from achieving their RHNA obligations and force more working families to look for housing opportunities in areas like Temecula, Murrieta and even across the border in Tijuana.
San Diego took a bold step to jump-start production of high-rise housing and backyard apartments Tuesday by loosening rules that govern where such homes can be built.
The City Council voted 5-4 to soften rules allowing taller apartment buildings and more backyard units when a property is near mass transit. Now, the transit line can now be as far as 1 mile away, instead of the previous half-mile requirement.
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Resale home transactions saw another drop in January, and although that’s not uncommon for the first month of the year, it’s been a trend for the past six months. Single-family home sales fell 19 percent last month compared to December, and attached properties (condominiums and townhomes) were down nearly 13 percent.
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San Diego home sales hit a low point in December, closing out a turbulent year for the housing marketing, with inflation, interest rates, and affordability taking their toll. Sales of single-family homes fell 46 percent compared to December of last year, while sales for all of 2022 were down 27 percent compared to 2021.
Read more.
San Diego home sales hit a low point in December, closing out a turbulent year for the housing marketing, with inflation, interest rates, and affordability taking their toll. Sales of single-family homes fell 46 percent compared to December of last year, while sales for all of 2022 were down 27 percent compared to 2021.
Read more.
Frank Powell has begun his term as the 2023 President of the Greater San Diego Association of REALTORS® (SDAR), leading the largest trade association in San Diego County with a diverse membership of 20,000 real estate professionals.
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