San Diego County’s median home price fell for the first time this year in August.
The median home price fell to $889,500, down 1.2% from the previous month, according to Attom Data Solutions, which combines sales of single-family homes, townhouses and condos. Despite sluggish sales and affordability issues, San Diego’s home prices have been unchanged, or rising, throughout much of the year.
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Sales are down 9% year-over-year in San Diego County. Median home price remains unchanged.
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Jose Mallari interviews Mark Goldman about real estate loans and mortgages in California. Discussion includes choosing a mortgage broker, pre-qualified/pre-approved buyer, debt to income ratio, down payment, closing costs, buyers in foreign countries, first time homebuyer program, conventional loan, jumbo loan, 30 year fixed loan, interest only loan, adjustable rate mortgage, home equity line of credit, FHA loan, Veterans Administration loan, credit check, investing in real estate, reverse mortgage, and mortgage tips
For the first time in almost two years, San Diego home prices didn’t increase.
The median home price in San Diego County was $900,000 in April, flat year-over-year, said Attom Data Solutions. The last time the median, a combination of all closed sales of single-family houses, townhouses and condos, didn’t go up was May 2023 when prices were down 1.64%.
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San Diego home prices were up slightly in March but at a pace new homeowners might not be thrilled with. In a normal market, more homes listed for sale equal more transactions. That’s not happening in San Diego right now.
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It was the worst sales month for a June in records going back to 1988
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San Diego County’s median price for a resale single-family home hit a milestone in May
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Lack of inventory and affordability constraints made for a historic drop in San Diego County home sales
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For the first time in months, a San Diego home is now worth more than it was a year ago.
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A key bond market indicator is signaling mortgage rates are headed back up and may even push the average for a 30-year loan past its recent 20-year high of more than 7%.
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