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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Just about everyone who owns a home in this country is hanging on to it. The number of existing homes, as opposed to newly built, that sold in May was 20% lower than a year earlier. That’s according to data released Thursday by the National Association of Realtors.
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San Diego County home proces in April rose for a second month after nine months of declines – and it is happening with very few sales.
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Loan Officer from C2 Financial Group, Mark Goldman discussed how the Fed raising rates impacts mortgage rates and if now is a good time to buy a home.
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