Drew Mobile: 858-220-3004 | Drew Email: drew@gellens.com

Christy Mobile: 858-220-3003 | Christy Email: christy@gellens.com

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What is Going On in the San Diego Real Estate Market?

What is Going On in the San Diego Real Estate Market?

June 2022

What is Going On in the San Diego Real Estate Market?

That’s the question we are asked daily

Here’s the quick answer:

A Balancing Out in the Real Estate Market

 Our team has 8 homes that have come to the market in the past month:

Off Market home La Jolla Shores (Please contact us for details)

939 Coast Blvd.

939 Coast Blvd. ​

El Paso Real

Muirlands Vista Way

La Jolla Farms Road

San Elijo Ave

Chesterfield Dr.

We are seeing a balancing out in the market. We are still well below normal inventory, but we are seeing more supply of homes coming to market. The increase in interest rates is thinning the buyer pool, which means we are seeing homes sitting on the market longer than we have over the past 2 years. We are expecting more homes to come to market as we move through summer.

What does that mean for sellers? Now is the time to sell if you have been waiting for the market to peak. San Diego will see a regulation in STVR at the end of the year which may have an impact on the supply and selling.

What does this all mean for buyers? Because we are expecting more supply there will be more choices of homes available, more time to decide, and more time to offer. Less competition. If you have any questions about your real estate plans this summer, let’s chat.

 

Interest Rates 2019 vs. 2022 & Home Loans

Interest Rates are rising. Did you know that interest rates for home loans in 2019 were just about 5% before Covid? They were. So yes, the interest rates are going back up to where they were just before Covid. 2019 was a great year in real estate in California. Home prices were still rising even though we were seeing interest rates at around 5%.

Now about home loans: 30yr Fixed Conforming at 5% with a 25% down payment 15yr Fixed Conforming at 4.125% with a 25% down payment 30yr Jumbo Loans are 4.875% with a 25% down payment VA & FHA are low down payment options. VA options are for U.S. Veterans, only. For more information https://www.phmloans.com/rates

#interestrates #homeloans #sandiegorealestate #realestatenews #Lajolla #Housingmarket #housing

Drew & Christy Littlemore are realtors with BHHS in La Jolla on Maxine & Marti’s Team, one of the top teams in San Diego. We represent buyers and sellers throughout San Diego County. Drew Littlemore is a La Jolla native as well as co-founder & owner of Headhunter Suncare, one of the leading sunscreen brands for surfers. Christy Littlemore has lived and worked in La Jolla for over 20 years, selling real estate since 2012. Prior to real estate she taught elementary and middle school in the San Diego Unified School District. Want to receive our Housing Market Newsletter and find out what’s happening in the La Jolla & San Diego market sign up here: https://bit.ly/39zQo6P

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Drew & Christy Littlemore
DRE#01935574 DRE#01913461
7910 Girard Ave Ste 9
La Jolla, Ca 92037
858-220-3004

http://littlemoregroup.com