Home prices are slowing down for the second month in a row. What does the future hold for home prices in the San Diego market?
San Diego is slowing down for the second month in a row. What does that mean for you? Although the news has to be shocking these days to capture the public’s attention, I’m here to give you just the facts and only the facts about what is really happening in the real estate market.
The latest numbers show that San Diego County home prices rose 5.7% this year, just below the national average of 5.9%, but not by much. We are slowing down, however. This time last year, home prices were increasing at a 7% higher rate than the national average.
According to the experts, higher home prices and increasing mortgage rates will shrink the number of households that can actually afford to buy a home and force prices to decline.
The great news for you is we aren’t there quite yet, and the market is holding strong for the time being. If you have equity in your home, it’s a great time to think about selling. If you’re not sure what your home is actually worth, I can show you an accurate home valuation right here on my page.
If you have any other real estate questions or if you’re looking to buy or sell in San Diego, give me a call or send me an email today. I look forward to hearing from you soon.