San Diego is OUT of New Homes

San Diego's housing scene just hit a surprising turn - we're officially out of new single family homes! I'm sharing the surprising inside scoop from a recent chat with a local developer, where they explained there are no more new construction single-family homes in San Diego. What does this mean for the housing market, homebuyers, and the future of living in San Diego County? We're diving deep into the implications, the whys, and what's next for those looking to move to or within San Diego. It's an informal, eye-opening discussion about one of America's most desired real estate markets, so tune in for some unexpected insights!
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[@SuperMassman]

☝️😝,, if you don't have lot's of money, this place isn't for you.

[@mandimatera9312]

We were able to buy a townhome in 2003 from DR Horton only after we won the builders lottery and showed we could put 200K down. Cash is king.

[@CLaFong]

Where are you going to build houses? Flat San Diego is built out. This isn't Austin or Dallas with endless flat buildable land in every direction. I don't want to hear from the media that Texas builds more, of course they do they also have 9 million fewer people with endless flat land. Insurance companies won't insure houses near shaperell which is everywhere in the hills in the east and building in hills is very expensive anyway. There were 1300 flat acres in Otay Mesa that were going to be developed but it was purchased by The Sierra Club to remain natural. There goes 1300 acres!

[@michaelgervasoni8009]

What developer did you talk to?

[@DanPBestLifeSD]

I don't want to put them on blast. It was a salesperson for one of the top 3 developers in San Diego.

[@ThinkTwice2222]

Doesn't make sense... Demand would have to exceed supply for price to increase... So did the population increase? Are ppl living longer, moving from SF and LA to SD?

[@DanPBestLifeSD]

Demand has absolutely exceeded supply for a long time. It’s not so much that demand has increased, more that there has been a significant lack of new supply (new developments) over the last 12 years. It’s a major issue that’s compounding here in 2024

[@SunZuu1]

People are moving from LA and SF, mostly from SF. A few I personally know have done that, to them SD is somewhat cheap.

[@DanPBestLifeSD]

@SunZuu1 yes that’s definitely a factor as well. Our population in SD has mostly stayed flat in the last few years, but we’ve had a lot of people moving here from SF and LA

[@Chew5219]

San Diego County population has been increasing since 2021 "The current metro area population of San Diego in 2024 is 3,345,000, a 0.78% increase from 2023. The metro area population of San Diego in 2023 was 3,319,000, a 0.73% increase from 2022. The metro area population of San Diego in 2022 was 3,295,000, a 0.7% increase from 2021"

[@scottc6946]

When I see that regular homes will no longer be built in SD, makes me think the regular homes that exist can only get more and more expensive, which is very good for homeowners

[@DanPBestLifeSD]

Prices keep going up

[@hyperionsrevenge]

thanks for the informative video Dan! Although I felt the same disappointment about developers no longer focusing on SFHs, this might be a blessing in disguise. Suburban sprawl with oceans of SFH neighborhoods is terribly unsustainable and incredibly isolating and lifeless. Most importantly it's too expensive for cities to maintain all the roads and infrastructure needed to support that kind of suburban sprawl. I hope this leads to more dense, mixed-use, walkable type neighborhoods in SD. From your video, it seems developers are focused on more density, but I hope that also comes with mixed use zoning changes, allowing for more schools, markets and, tbh, bars I don't have to drive too within these new neighborhoods.

[@DanPBestLifeSD]

I agree with what you are saying. I know the American dream is a single family home with a white picket fence, but the truth is that's not going to solve our current housing crisis. Our only chance to help more people become homeowners is through a bit more density. The single family homes will still be out there for the people that can afford it, and the attached properties will allow first time buyers to build equity and eventually move into a detached home if that's what they desire.

[@erniegutierrez2288]

It is the end of an era Dan. Gone are the days of your typical contemporary detached home with a big yard and a big grass lawn. Its all about compact urban attached dwellings with one car space if youre lucky. Its no surprise that its getting more expensive and difficult for developers to build but it doesnt have to be that way. I always look to history for solutions and one would be Levittown. Government could easily subsidize home developers to keep those building costs low. "Like'

[@SunZuu1]

Those KB homes are a block from me, did they give you a starting price? They look like some kind of townhome, San Diego prices will be forever high.

[@DanPBestLifeSD]

Hey sounds like you are my neighbor! I should know more in the next week or so as the model homes open, but they told me they are starting at $1.1 and go up into the $1.3’s. And yes, they are all 3 level townhomes. Fairly sizeable, and a nice community.

[@SunZuu1]

@@DanPBestLifeSD yup we are, I live off Tamarack. Lol on the prices but not surprising, at first I thought they were 55+ apartments.

[@DanPBestLifeSD]

We are definitely neighbors! We are also off Tamarack. You might catch my wife and I riding our e-bikes down Tamarack to the beach on a nice day.

[@SunZuu1]

@@DanPBestLifeSD awesome, love Carlsbad. Keep up the great videos!

[@DanPBestLifeSD]

Agreed, I love it up here. And thanks for the kind words!

[@TheMaskedMannnn]

Lennar has a bunch of new single family homes lol Lennar keeps building, this is incorrect info unless there's something I don't understand.

[@DanPBestLifeSD]

I’m really referring more to future projects as single family are going to become increasingly rare. Yes there are still a few single family developments, but there’s not many in the pipeline for future builds

[@sRan6569]

San Diego is doomed. Wages aren’t going up while the pricing for housing and rent increases every year. Now, no more single family home? Ridiculous. They’re just pushing people to be living on top of each other when no one wants that. They want actual homes to build a foundation for themselves and their family.

[@kmo20794]

You can thank NIMBYs for blocking all new developments. They screwed us all over

[@SuperMassman]

No it isn't,, only people with money will live there,, everyone else will try and fail.

[@Skogiants69123]

Actually would be happy to own a 3 bed condo. Need more housing and need to build up. Part of the reason we are in the housing crisis is a direct result of single family zoning