The North County and San Diego County housing markets are slowing. Since April, we’ve seen an increase in supply with fewer pending and sold homes. Market times have increased, but only slightly. And although homes still sold over asking price in June, those numbers also dropped.
Continue reading North County and San Diego Housing Markets July 2022
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.
Continue reading North County and San Diego Housing Markets June 2022
The last two years caught many of us off guard, and not just because of the pandemic. They also ushered in the hottest housing market on record. Low mortgage rates paired with a supply shortage drove home prices up nationally by nearly 19% in 2021.
Continue reading Rising Mortgage Rates, Short Supply: The State of Real Estate in 2022
Change is in the air, but North County and San Diego housing markets are just starting to feel it. Nationally, mortgage applications are down, home touring activity dropped by 24 percent between January 1 and May 1, and more sellers are lowering their asking prices.
Continue reading North County and San Diego Housing Markets May 2022
Even with high inflation and rising interest rates, we had another record-breaking month in the North County and San Diego housing markets. Year-over prices in North County were up a whopping 25 percent, and homes sold at 106.7 percent of their asking prices!
Continue reading North County and San Diego Housing Markets April 2022
The February North County and San Diego housing markets looked a lot like they did in January, just a little crazier. Although year-over appreciation numbers weren’t quite as high, homes sold at 105.5 percent of their asking prices countywide, and inventory remained at a very low 0.5 months.
Continue reading North County and San Diego Housing Markets March 2022
December brought an even tighter inventory squeeze to North County and San Diego housing markets keeping strong upward pressure on home prices. Following November’s pattern, we saw a drop in pending and closed sales, but an even larger decrease in new listings. This kept median, year-over price increases at 17.6 percent in North County and 16.7 percent countywide.
Continue reading North County and San Diego Housing Markets January 2022
Where is real estate headed in 2022? Last year was definitely one for the real estate history books. The pandemic helped usher in a buying frenzy that caused home prices to soar nationwide by a record 19.9% between August 2020 and August 2021.
Continue reading The State of Real Estate in 2022
The North County and San Diego housing markets continued to see 16 to 17 percent, year-over price increases with inventory being squeezed down to almost nothing in November. And although closed and pending sales have dropped compared to last year, new listings have taken an even bigger hit. This is keeping a lot of pressure on our market with few options for home buyers.
Continue reading North County and San Diego Housing Markets December 2021
Sales continued to slow in North County and San Diego housing markets in October, but price increases were still strong and inventory remained tight.
Continue reading North County and San Diego Housing Markets November 2021