01/31/2025
I get these questions daily, can you guess what they are?
Yes, you guessed them:
Are homes still selling? Are prices coming down? How are the interest rates affecting the market? When is the best time to buy?
As you can see in this comparison for the last 3 years in the month of December, how the market is doing. This stat here is based on the following: Detached 3 bed homes in San Diego County, Metro uptown, North County and East County. Note as rates initially started to rise in 2022 there was a slight slow down while people were waiting to see if rates were going to drop again. In 2023, you will see that people realized we will not be seeing the rates drop any time soon and bought their dream homes at an average of 100% of asking price . In 2024 again, some people thought that the elections would change things and it slowed slightly yet homes are still selling and we had an increase in the number of units sold. Clients were able to negotiate a little more for incentives or price.
You ask, when is the best time to buy??? Well of course, NOW!!! What are you waiting for? If rates drop, refinancing your mortgage is better than competing with 20-30 offers and paying a higher price, don't you think?
I would love to hear your thoughts!
