An update on the recent changes in the San Diego real estate market.
2022 was a wild and crazy year, especially when interest rates started to fluctuate a lot. Many people felt too overwhelmed to buy or sell a home—was that you? If you are interested in jumping back into the market, we have great news for you: the market has slowed down quite a bit.
People are now getting more comfortable with where interest rates are. Lenders are also offering great programs to help buyers offset some costs, like rate buydowns and free refinancing in the future. Plus, sellers are incentivizing buyers by offering to pay for closing costs or a rate buydown. Overall, there are many great things happening for buyers, and we recommend acting before competition increases and sellers get less motivated.
We are glad that at the start of 2023, things have balanced out for buyers and sellers. There are more compromises, and now more people can invest in San Diego, which is great for our community! We’re seeing an increase in new-construction homes in the Bayfront and San Diego campus area. Plus, more and more younger buyers are coming into our communities.
Overall, there’s a lot of activity happening in the San Diego real estate market. We are very excited about 2023, and we’re ready to serve you. If you have any questions or are interested in entering the market, call or email us! We would love to help you.
