Foreign homeowners investing in the San Diego market
One of the signs of an improving housing market is an increasing number of foreign investors purchasing property in the local area. This is currently happening in Southern California, as homes for sale in San Diego are being secured by investors from Asia. This renewed interest has resulted in a much more competitive housing market, which shows the region is moving on from the real estate struggles of the past few years.
10News San Diego reported that Chinese investors are now the second largest group of foreign buyers in the United States. San Diego realtor Scott Cheng told the news source that the end of the Chinese housing boom has led many citizens to seek homes in San Diego, giving the market a boost.
While housing inventory has lowered due to this surge in demand, the competitive market still represents a golden opportunity for potential homeowners.
"It's an old real estate adage: You always buy up in a down market," said real estate broker Greg Anderson, according to the San Francisco Gate. "If you buy up in a down market, you make money on arbitrage."