Since September, mortgage rates have been on a rollercoaster. They first dipped into the low 6% range only to climb past 7% by the end of October. Yikes. If you’re feeling overwhelmed, you’re not alone. These rate fluctuations can make home buying feel like a guessing game. Fortunately, you don’t have to wait for the “perfect” rate to make your homeownership goals happen. 

Today’s headline on the front page of the San Diego Union-Tribune “San Diego home price gains slow; falls in nationwide rankings” is gaining attention as our beloved home has been in 1st or 2nd place for highest gains for the last 11 months according to S&P Case-Shiller Indices and has fallen to 7th. The San Diego metro area includes all of San Diego County.

Inventory of single-family homes has increased to 163 and the median list price is $1,100,000. Price decreases are at 40% and median days on market is 35 days.