San Diego Real Estate Statistics

San Diego real estate has gone on a wild ride these last few years. Record sales and record appreciation has sent just about everyone into the market where you couldn't lose. The face of the real estate industry faced cataclysmic changes as technology and a massive influx of agents and investors frenzied for an aapproximate 4 year stretch that saw record low interest rates. People quit their jobs to become professional house flippers, investors who may not have learned their lessons in the tech bubble decided speculation in real estate is fine, companies sprouted up with new business models based on lowering service and reducing fees- hell, the houses couldn't stay on the market!
It seems we are now heading back to earth. Market times are starting to creep up. Prices are no longer running out of control with multiple offers from compteting buyers. Real estate agents are leaving the business. And one of the biggest factors that will determine the not so distant future of real estate is the interest rates that are on the rise.
So what is coming for the San Diego real estate market? What is going to happen to the people that bought at the top of the market in an interest only or short term adjustable loan? What will happen to those that need to sell their house and will now compete against speculators and other investors who need to dump properties that are no longer performing and will reduce a price beyond that of what may be market value?
Well, here are some things we know. Demand for San Diego real estate still outweighs Supply.