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
The North County and San Diego housing markets saw year-over prices drop in March, but it’s still a sellers’ market. What’s causing this dichotomy in the market? — interest rates and inventory. Higher mortgage rates have slowed the housing market down and put pressure on home prices, but inventory levels are still very low. This is causing a supply shortage for home buyers.
Continue reading North County and San Diego Housing Markets April 2023
The North County and San Diego housing markets are continuing to follow January’s trends with slower activity overall, but also a strengthening of sales to list price ratios and fewer available homes for sale. It’s not all roses for home sellers though. Compared to last April’s peak, the median sales price has dropped by almost $100,000 in North County and by slightly over $100,000 in San Diego County as a whole. And rather than selling in just a couple weeks, homes are now taking about 40 days to sell.
Continue reading North County and San Diego Housing Markets March 2023
For the first time in quite a while, median home prices in the San Diego housing market did not see a year-over gain. Home prices have been slipping since they peaked last April, and we may see them fall farther.
Continue reading North County and San Diego Housing Markets January 2023
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.
Continue reading 8 Strategies to Secure a Lower Mortgage Rate