May 2018 San Diego Real Estate Update

May 2018 San Diego Real Estate Update

WATCH OUT!  Mortgage Rates on the Rise Again! 

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They said this day would come.. Well folks, I'm here today to report that sure enough the F.E.D. has just delivered another promised increase to our mortgage rates. Be aware - steady rate increases are set to occur several more times over the year...

ATTENTION: The Market is Changing! 
San Diego Home Buyers, Sellers & Owners alike - You could be affected significantly by this new change! If you would like to discuss further with a local real estate advisor, contact at  888.503.3117


As we turn the page and head into the more palatable days of summer, we can expect our local housing market to pick up speed and all signs suggest our housing prices will continue this steady climb into the foreseeable future. With mortgage rates on the rise – buyers will soon realize the real threat time now plays against housing affordability. 

As for the recent rise in mortgage rates – buyers will realize these climbing rates are not just distant  threats on the horizon, but rather a costly condition of today’s housing market. Especially for first-time buyers and those looking in the lower-tier homes, these steady rising rates should be cause to push buyers out there and purchase their home during these next few summer months before its too late.

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Many sellers and builders are in a good position for financial gains, as the economy continues to favor sales of existing homes and constructing new homes for sale. As we predicted just last month, the market has officially shifted on a national level – after more than two years of waiting, we are finally seeing some upward movement in new listings hitting the market here. Remember, we’re talking slight shifts here – we still maintain a sellers’ market with inventory levels still well below the line of demand, so buyer competition and price increases are still active conditions in our present housing market and likely will continue for the next several months.

Here's the numbers from last month to back that up.. 

Article courtesy of San Diego Real Estate Today


Joseph Arendsen Headshot
Author:
Phone: 760-672-0174
Dated: May 25th 2018
Views: 171
About Joseph: Having been raised in North County San Diego, Joseph has a great wealth of experience and knowledge ...

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