Word I liked this week: “Often, by the time you have all the information, the opportunity is gone.”

Nationally

Housing inventory is on the rise – but only in some markets.

The Southern & Western regions of the US are experiencing inventory levels at, or above, pre-pandemic levels, while the Northeast & Midwest are still trying to catch up. This means that the south and west are seeing values flatten or go down, while the north and east are experiencing values continuing to increase. 

California

California may be headed away from a Seller’s market – though it’s not gone yet.

Homes are taking longer to sell – about 40% longer than last year – as more homes continue to hit the market. With nearly 4 months of housing inventory, we are inching closer to a balanced market, but still not quite to the 5-6 months of inventory which is considered “balanced.”

San Diego County

San Diego isn’t seeing a decline, but also no major growth.

Housing inventory is down slightly year-over-year, while values are up a hair. The desirable climate of San Diego, along with our positioning along the west coast and limited areas for new home development, are keeping values where they are for now.

🏠 Homes for Sale:	5,840
✨ New Listings (Last 30 Days)	2,231
🤝 Homes Under Contract:	2,536
🏁 Sold Homes (Last 30 Days)	354
Conventional 30-Yr Fixed Interest Rate	6.32%
Conventional 15-Yr Fixed Interest Rate	5.84%

Thanks for reading,

Andrew

P.S. – Here is a link to a graph showing the fastest and slowest housing markets. It really highlights the disparities by geographical region -> https://www.datawrapper.de/_/eYlcm/

Andrew Householder Temple, REALTOR® | DRE# 02202066 | Coldwell Banker West | (619) 452-6193 | HouseholderRE@gmail.com