Deciding whether to jump into the housing market or rent instead is rarely an easy decision. This is especially true if you’re a first-time homebuyer. But in today’s whirlwind market, you may find it particularly challenging to pinpoint the best time to start exploring homeownership. Here are some ways to figure out if it makes more sense to buy or rent.
North County and San Diego housing markets continue to slow due to pressure from rising interest rates. It’s not all doom and gloom though. Countywide, the median price rose by 7.6 percent year-over in September. Inventory is still very low, sitting below two months, and the average time for a home to sell is just one month.
Mortgage rates have more than doubled in a matter of months. This is making homes much less affordable for today’s buyers. It’s also softening the strong seller’s market we’ve experienced over the last few years. Because of this, it’s important for home sellers to use all of the tools at their disposal to make their homes as marketable as possible. It’s equally important for home buyers to make their home purchases as affordable as they can. One way you can do this is with an interest rate buydown. An interest rate buydown reduces the monthly mortgage payment for the home buying borrower.
There’s lots of fall fun in North County and San Diego in October! Along with Oktoberfests and wine and food festivals, there are lots of great kids’ activities too. See a tractor show, go for a run or walk, get scared, watch Ultimate, see a great movie, and so much more. Keep reading for more great San Diego and North County fun events!
North County and San Diego housing markets continue to see month-over drops in prices, longer market times and lower selling verses asking prices. But what we are no longer seeing is an increase in inventory.
Mortgage rates have been on a roller coaster ride this year. The Fed is saying they are open to more rate hikes to fight inflation. With proper planning, you can work toward qualifying for a lower mortgage rate and, hopefully, the best mortgage rate available today.
North County and San Diego Events in September include something for everyone! You can go to the races, stomp grapes, enjoy lots of festivals with music, art and food, or take in a movie. There’s even a Steampunk expo! Keep reading for more great San Diego and North County events!
North County and San Diego housing markets are continuing to slow, but at this point, we’re just moving toward a more balanced market. The median and average sales prices have been dropping since April, but are still showing strong year-over gains. Inventory has also not yet hit pre-pandemic levels, and homes are selling faster than they were in 2019.