Realty Executives Dillon
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San Diego has the second fastest growing economy in the state. Per the State Labor Department the southern border region experienced a 3.6% growth in nonfarm payroll since July 2014, second to San Francisco’s rate of 4%. The biggest gains have come from the hospitality and tourism sector.
This is a welcome development for both buyers and sellers in the San Diego real estate market. As their economic outlook improves, buyers will be more willing and able to enter the home buying market; in turn, the increased demand can push San Diego sales prices up for current owners and encourage those still waiting on growth of their equity to enter the market, increasing supply.