The North County and San Diego housing markets continued to stay strong in March despite mortgage rates hovering at approximately 7 percent. Tuesday saw rates reaching their highest point since November which may cause some softening in the April numbers. They are now above 7 percent.
Continue reading North County and San Diego Housing Markets:
Both the North County and San Diego housing markets saw strong year-over and month-over price increases in February. This is because demand continues to exceed supply even with today’s higher interest rates.
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The number of pending homes in the North County and San Diego housing markets rose in January as expected, but mortgage rates and inventory shortages are keeping a damper on sales. Last week’s strong jobs report pushed mortgage rates higher and killed any chance of the Feds lowering short-term interest rates in March.
Continue reading North County and San Diego Housing Markets February 2024
The North County and San Diego housing markets were quiet in December even with mortgage rates trending down for most of the month. December tends to be a slower month for home sales, plus our ongoing shortage of homes for sale is keeping numbers low. Prices are still going up though. The year-over, median sales price increased 10.7 percent countywide and 4.5 percent in North County.
Will prices continue to climb in 2024? Realtor.com thinks so. They gave San Diego the number four spot in “The Top 10 Real Estate Markets of 2024.” And they’re forecasting a 5.4 percent increase in home prices here this year.
Continue reading North County and San Diego Housing Markets January 2024
What’s the real estate forecast for 2024? Will home prices continue to climb, or will they crash? What direction are mortgage rates moving, and will more homes come on the market?
Read on to learn more about the current state of the U.S. housing market, the potential opportunities for buyers and sellers, economists’ predictions for the year ahead, and what it all means for you.
Continue reading Real Estate Forecast 2024: Opportunities for Home Buyers and Sellers
Although year-over prices in the North County and San Diego housing markets are still up, month-over prices continue to drop. That’s not unusual this time of year, and interest rates have been high. Luckily, those rates have been dropping since mid-October, and they’re now at the lowest point they’ve been in almost three months. They are almost a full percentage point below their peak on October 19.
Continue reading North County and San Diego Housing Markets November 2023
The San Diego housing market saw a 10.6 percent, year-over sales price increase while North County moved up 11.4 percent. Closed and pending sales dropped, while new listings decreased even more.
Continue reading North County and San Diego Housing Markets September 2023
While prices in the North County and San Diego housing markets haven’t quite reached their peaks from April, 2022, they’re getting close, and median values are higher than they were a year ago. Countywide, the year-over median price is up 1.8 percent, and in North County, it gained 3.2 percent. Inventory is slowly creeping up, but it’s still under two months.
Continue reading North County and San Diego Housing Markets July 2023
We’ve all been hearing about real estate markets slowing, mortgage rates rising and prices dropping. All of which is true in the San Diego real estate market. But the news you hear is national, and real estate is local. Here in San Diego, that’s not the whole picture. Read on for both the local and national real estate market update, and find out how they differ.
Continue reading Real Estate Update: The San Diego Market vs. National Trends
It’s been a year since we saw home prices reach their peak in the North County and San Diego housing markets. If you look at annual statistics, you’ll see that home prices have dropped compared to the same time last year. But that’s not the whole picture. Prices have actually been climbing since they hit a low point last winter. And not only are we seeing prices climb, homes are also selling more quickly with many sellers receiving multiple offers and a very high percentage of their asking prices.
Continue reading North County and San Diego Housing Markets May 2023