The North County and San Diego housing markets posted modest price growth in April, even as mortgage rates recently climbed to a six-week high. Year-over median prices rose 1.7 percent countywide and 0.8 percent in North County. Supply increased month over month, as expected in spring. Even so, inventory remains below three months in both markets and is still lower than a year ago.

Altos Research continues to classify single-family homes in San Diego County as a strong seller’s market, with little change from last month. Condos remain in slight seller’s territory. The overall structure of the market has not shifted.