San Diego Market Snapshot
The number of homes that have sold in San Diego during 2018 is 5% below a year earlier as of October. This translates to 1,900 fewer homes that have sold across the region this year.
As sales volume has slowed, the inventory of homes available for sale has grown. As of October 2018, 10,800 homes were for sale across San Diego, up significantly from 7,400 a year earlier, when inventory was near an historic low. While higher than 2017, today’s inventory is still low in comparison with historic standards.
Home prices in the region are slowing from month-to-month, but continue to rise on an annual basis, currently averaging 5% above a year earlier. The average price-to-list ratio is currently 97% in San Diego, just below a year earlier.

Interest rates also continue to rise, currently averaging 4.5% for a 30-year fixed rate mortgage (FRM). This average rate is up from 3.8% this time last year. As a result, today’s homebuyer is qualifying for smaller mortgage amounts with the same income and down payment.

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