What increasing mortgage rates do to San Diego home prices

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For San Diego housing - The buyer demand for homes is slightly outpacing the supply of homes, keeping the home prices stable and increasing. 

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But if buyer demand drops (mortgage rates go up above 7%) or job loss, home prices could decrease.

Alternatively, if more homeowners decide to sell their houses, the supply will increase, and prices could decrease.

Right now, the buyer demand slightly exceeds the supply of homes, causing the home prices to be stable and increasing. 

If the mortgage rates decline to 5%-5.5%, the buyer demand will increase and could cause a price increase. 

The most important thing in determining the direction of the price is the balance between the supply and the demand. For real estate, it is the supply of homes and the demand from buyers. I have a free report that will keep you updated on these. Download a free copy.

 

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