Tag Archives: today’s interest rates

June 2018 North County and San Diego Real Estate Market Report

June 2018 North County and San Diego Real Estate Market Report

The June 2018 North County and San Diego Real Estate Market Report continues to show a slight turnaround in the years-long trend of tightening inventory. As I noted last month, the number of homes for sale in San Diego and North County has been shrinking since 2015. Last month, year-over inventory in both markets finally increased. This month, we saw it continue to grow in North County and level-off countywide. This will be something to watch as the year progresses.

Statewide, we also saw a rise in inventory, but not across the nation as a whole. Experts are predicting home prices will continue to grow at double the pace of wages.

We have not seen enough of a shift to make any kind of major change in our market, but the lack of inventory is what has kept pressure on housing prices. If inventory continues to rise, this will bring more choices for home buyers and weaken home appreciation. Rising interest rates will also put pressure on home values.

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May 2018 North County and San Diego Real Estate Market Report

May 2018 North County and San Diego Real Estate Market Report

The May 2018 North County and San Diego Real Estate Market Report brings us a month of firsts. The median home price countywide hit its highest point ever at $575,000. That’s $15,000 higher than in March and 8.7 percent more compared to the previous year. North County also saw a new high with its median price increasing 7.4 percent over the previous year, hitting $644,500.

April’s other first was a year-over increase in new listings in both North County and San Diego County as a whole. We haven’t seen this happen since August 2016. This increase in new listings combined with fewer sales kept inventory levels from decreasing. They are still quite low at 2.1 months in North County and 1.9 months in San Diego County, but this is the first time inventory has not seen a year-over drop since 2015.

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April 2018 North County and San Diego Real Estate Market Report

April 2018 North County and San Diego Real Estate Market Report

The April 2018 North County and San Diego Real Estate Market Report continues to show strong price growth, tight inventory and fewer sales compared to 2017. Those price increases along with rising mortgage rates are making it tough for home buyers. The San Diego economy is strong based on a recent study by University of San Diego, but experts don’t see the real estate boom lasting forever.

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February 2018 San Diego Housing Market Report

February 2018 San Diego Housing Market Report

The February 2018 San Diego Housing Market Report shows January as a fairly quiet month. This is expected after the holidays. That being said, we still saw continued price increases and tight inventory in San Diego and North County. In fact, San Diego ranked sixth on the hottest U.S. markets list from realtor.com®.

Change may be coming though. Interest rates are increasing. These higher rates will decrease buyer’s purchasing power. Tax law changes now limit property tax deductions. With these changes, experts expect price increases to continue, but at a slower pace. They also see more inventory coming on the market by the end of the year.

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October 2017 San Diego Housing Market Report

October 2017 San Diego Housing Market Report

The October 2017 San Diego Housing Market Report is showing strong year-over price increases, and a continued drop in the number of new listings and sales compared to 2016. Despite our lack of inventory, the San Diego County market moved up to number five on the hottest U.S. markets list from realtor.com® for September.

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September 2017 San Diego County Real Estate Report and Interest Rates

September 2017 San Diego County Real Estate ReportThe September 2017 San Diego County Real Estate Report continues to indicate strong price increases, fewer sales, and even fewer homes coming on the market. The real estate news magazine first tuesday Journal predicts that once San Diego makes a full job recovery in 2018, real estate sales volume will rise and peak in 2020 or 2021.

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August 2017 San Diego County Real Estate Report and Interest Rates

August 2017 San Diego County Real Estate ReportThe August 2017 San Diego County Real Estate Report shows the same trends we’ve been watching for a while, strong price increases, fewer sales, and even fewer homes coming on the market. Although some have brought up the disturbing idea of a housing bubble, most experts don’t see a bubble in our near future.

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June 2017 San Diego County Real Estate Report and Interest Rates

June 2017 San Diego County Real Estate ReportThe June 2017 San Diego County Real Estate Report still shows a hot market with fast moving sales and a serious lack of inventory. But this cannot go on forever. Real estate markets are cyclical. Some parts of the country are already showing a slowdown in appreciation rates as reported by CNBC.

The anticipated rate hike by the Federal Reserve will most likely put downward pressure on the market. It will not only make it more difficult for buyers to borrow for their home purchase, but it will also push up the cost of consumers’ existing revolving debt and adjustable rate mortgages.

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May 2017 San Diego County Real Estate Report and Interest Rates

May 2017 San Diego County Real Estate ReportThe May 2017 San Diego County Real Estate Report shows continued gains, despite the ongoing supply shortage and slowly increasing mortgage rates. Those rising interest rates paired with increasing values are making San Diego County homes less affordable. Trump’s proposed tax plan could decrease affordability even more by removing important deductions for homeowners.

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April 2017 San Diego County Real Estate Report and Interest Rates

April 2017 San Diego County Real Estate ReportThe San Diego and North County real estate markets remain strong with good appreciation and short market times. Inventory is still at its lowest point since 2004. Despite the lack for homes available to purchase, March saw an increase in the number of homes that went under contract in both markets.

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