Decreases in San Diego Real Estate Signals Opportunity for Buyers

A recent Redfin Fastest Markets Report from August shows that the speed for selling San Diego real estate faltered for the fourth month in a row.

The month of August for San Diego real estate clocked in at 27.9 percent, which is down from 29 percent in July, whereas April posted a 33.7 percent selling rate according to the Redfin Fastest Markets Report.

The report indicates that since home prices and mortgage rates have risen in spring, the competitive scenery of the San Diego housing market has been altered drastically. With the San Diego real estate prices and mortgage rates being elevated in price, this has led to buyers dragging their feet in creating plans to buy San Diego real estate in the last four months.

San Diego is the number one city in the country for the speed decrease between the months of July to August. The rate of which San Diego real estate has been going under contract has teetered to an astonishing 31.6 percent in two weeks. That is a 4.5 percent drop from two weeks prior – which was at 36.1 percent.

According to an article in Newsroom America, the market could see some light at the end of the tunnel. As the summer had a trend of buyer’s slower pace in buying San Diego real estate, there could be a slight rise in September due to reduced mortgage rates.