As we ease into 2023, I'd like to share with you a perspective from Kay Bates, local real estate expert, on what to expect in 2023.
Let me take just a moment to wish all of you a New Year blessed with peace, happiness and productivity.
As the year begins, we are off to wild weather and the real estate market seems to be mirroring the weather in more ways than one. Just as there are microclimates in the weather, there are the same microclimates in real estate. We are blessed with our own micro economy here in the San Diego area. That also means that the economic climate here doesn’t necessarily reflect the same issues as the national housing numbers you read in the news.
I’ve committed to providing you with Local News relevant to where we live specifically this year. The one thing I know for certain is that numbers never lie, but they don’t tell the whole story either. There are several reasons you may want or need to buy or sell real estate this year. Remember that whenever there is change there is opportunity depending on one’s circumstances.
Don’t panic, don’t listen to the National rumor mill, and for heaven’s sake don’t try to second guess the Federal Reserve! Even talented scientific economists can’t seem to predict what the Federal Reserve members think or will do until they do it, how can we?
To that end, here’s the local numbers on Escondido, divided into 4 microclimates geographically. I could get even more granular, but it would make your head spin as it sometimes does with mine.