It’s June and time for a mid-year market update to review this year’s most important real estate news and get a sneak peek into what analysts predict is around the corner for 2024.
Continue reading 2024 Mid-Year Market Update: What Buyers and Sellers Need to Know
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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With mortgage rates close to 8 percent, month-over prices have backed off slightly in the North County and San Diego housing markets, but year-over prices continue to increase. New listings, pending sales and closed sales have all decreased.
Continue reading North County and San Diego Housing Markets October 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
Despite persistently higher mortgage rates, the North County and San Diego housing markets are recovering. The median price hasn’t yet reached last April’s peak, but it continues to move upward, and increased just over 1.5 percent from April to May. New listings picked up slightly which helped to expand the still very tight inventory of available homes.
Why are we seeing multiple offers on homes and sales prices exceeding list prices when the year-over volume of closed sales was down by almost 30 percent? Continue reading North County and San Diego Housing Markets June 2023
The North County and San Diego County housing markets are slowing. Since April, we’ve seen an increase in supply with fewer pending and sold homes. Market times have increased, but only slightly. And although homes still sold over asking price in June, those numbers also dropped.
Continue reading North County and San Diego Housing Markets July 2022
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.
Continue reading North County and San Diego Housing Markets June 2022
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.
Continue reading North County and San Diego Housing Markets May 2022
Even with high inflation and rising interest rates, we had another record-breaking month in the North County and San Diego housing markets. Year-over prices in North County were up a whopping 25 percent, and homes sold at 106.7 percent of their asking prices!
Continue reading North County and San Diego Housing Markets April 2022