![]() ![]() Here’s how the different home types fared in July: San Diego County’s median combines resale and newly built single-family homes, condos and townhouses. Redfin said the number of days on market was about 12.7 in July, up from 10 to 11 days in May and June. The median number of days on market is climbing slightly. That’s up from 2,900 in April, but still down from nearly 6,000 at the same time last year. There were around 3,300 homes for sale in San Diego County in July, said the Redfin Data Center. Home inventory has picked up slightly in recent weeks, but is still near historic lows. I don’t know for sure, but if interest rates get up near 8 percent, you are going to see the market dip again.” “I do think we are due for another round of cooling. ![]() “The question is: Is this going to be the thrust that kills the beast?” Thornberg said. It has continued to climb and was an average 7.06 percent on Wednesday morning, said Mortgage News Daily. In the last week of July the average interest rate for a 30-year, fixed-rate mortgage was 6.81 percent, said Freddie Mac. He isn’t so sure that can last in the next few months with rising rates. She said they got four offers and probably could have received more, but the buyers - who were moving out of state - liked a young family that toured the house and decided to accept their offer.Ĭhris Thornberg, economist and founding partner of Beacon Economics, said the real estate market handled the increase in mortgage rates, with rising prices, because inventory was so low. ![]() Ryan put a 2,213-square-foot, single-family home in Ramona on the market in mid-May for $729,000 and four days later it was in escrow. ![]()
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