With mortgage rates close to 8 percent, month-over prices have backed off slightly in the North County and San Diego housing markets, but year-over prices continue to increase. New listings, pending sales and closed sales have all decreased.

Despite persistently higher mortgage rates, the North County and San Diego housing markets are recovering. The median price hasn’t yet reached last April’s peak, but it continues to move upward, and increased just over 1.5 percent from April to May. New listings picked up slightly which helped to expand the still very tight inventory of available homes.

Why are we seeing multiple offers on homes and sales prices exceeding list prices when the year-over volume of closed sales was down by almost 30 percent? Continue reading North County and San Diego Housing Markets June 2023 →

North County and San Diego housing markets saw just an inkling of easing in May, but still stayed very strong. With interest rates pushing up to six percent in June, experts expect more slowing. Looking at the numbers so far for June compared to those of May, we are seeing some slowdown. But don’t expect much change in the market just yet. Inventory is still very low. Homes are still moving quickly with many selling over their asking price.