SD Housing Market Sees Increase In Buyers

More People Competing For Fewer Homes, Real Estate Experts Say

Local real estate experts say the San Diego housing market is looking up, bringing with it increased competition among buyers.

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"It's been a roller coaster ride. One minute, we see a house that we really like and we put an offer in, and the next thing we know we've got 10, 12 other people also interested in the same home, and suddenly it's out of our reach," said Robyn Weingel.

Weingel, and her husband Mitch, fell in love with a San Carlos home.

"We feel safe here. It feels comfortable and warm; it's pretty," said Robyn Weingel.

The house had 14 bids and sold for well over the asking price -- it was listed at $439,000 and sold for $470,000.

One Poway home had more than 40 offers on it after going on the market at $255,000. The winning bid was just over $311,000.

Sara Masey, lead agent at real estate company Redfin, said, "It's busy and competitive right now."

Masey told 10News her company has less than half the inventory than last year, which means more people are competing for fewer homes.

"It's just a great time to buy with all the low rates, and so you have a lot of people out there trying to buy that can buy," said Masey.

Mitch Weingel said, "[It's] kind of a Catch-22. Interest rates are as low as they've ever been, but it seems like in San Diego it's gone from a buyer's market to a seller's market overnight."

"It's out there. I know that perfect house is out there for us," said Robyn Weingel.

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