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.

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.

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.

Recent news is that nationally the housing market is cooling off. That’s true in the North County and San Diego real estate markets, but they are still very strong. Homes continue to sell quickly and often over their asking prices, but not to the extent they were earlier this year.