Tag Archives: San Diego housing market

July 2017 San Diego County Real Estate Report and Interest Rates

July 2017 San Diego County Real Estate ReportThe July 2017 San Diego County Real Estate Report shows that, unlike some parts of the country, the San Diego County real estate market has not slowed down. In fact, year-over median sales prices increased countywide by 11 percent in June. The number of closed sales has dropped, but this is due to a continued lack of inventory.

San Diego County’s housing market has recovered with the median sales price exceeding 2005’s high in May this year. If you’re a homeowner, that’s wonderful news. It you are looking to buy, it’s not as scary as it sounds because when you adjust for inflation, we are still well below pre-recession highs. Only about one-third of the country has seen this recovery.

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When Does One-Half Equal More Than Five?

When Does One-Half Equal More Than Five?Since the election, interest rates have started going up. This will have a direct effect on the cost of housing. A one-half percent change in interest rates can affect your monthly payment more than a five percent change in home prices.

When does one-half equal more than five? When interest rates increase! Here’s what a change in interest rates costs you compared to a rise in home prices.

I’ve used a $500,000 purchase price with a 20 percent down payment. Interest rates are broken down in 0.25 percent increments from 0 to 1 percent. Price increases are broken down in 2.5 percent increments from 0 to 10 percent.

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