San Diego Real Estate Market Update | November 2022
The San Diego real estate market is in a standoff between buyers and sellers!
The housing market is undergoing a major shift, and affordability continues to be an obstacle for buyers and sellers. Mortgage rates have doubled since March, and home prices remain elevated due to a limited supply of homes, although values have slipped in recent months. As a result, many homeowners are waiting until market conditions improve to sell their home, while other sellers are increasingly cutting prices and offering concessions to attract a greater number of buyers.
In this update, we share the latest information about the real estate market, and discuss what it means for buyers and sellers.
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*Here’s a link to the video we mentioned, about reducing a buyer’s interest rate by using a 2-1 buydown program: https://youtu.be/bnl2BIRek3Y