2/8/2024 0 Comments Resale home inventory business![]() San Diego County homebuyers were putting an average of 30 percent down in the second quarter, said research from housing firm London Moeder Advisors, up from 28 percent two years ago. One way to lower the monthly cost of a home is to come up with a higher down payment. ![]() Also, the median days on market in August were around 14, compared with 15.7 days in the last month. In August, Redfin said only about 4.8 percent of San Diego County homes had a price drop, compared with 5.8 percent in the last four weeks. There have been some signs of a slight softening in the market in recent weeks, likely the result of mortgage rates still rising. “She’s been getting beat out left and right,” he said. Grant said he has been working with a Chula Vista client who is very well qualified to buy a condo or townhouse in the $700,000 range but keeps running into multiple-offer situations. That’s down from 5,719 at the same time last year. Grant said many potential sellers have locked in low-interest rates and are only selling if there has been some immediate need, like a death or a divorce.Īround 3,390 homes were listed for sale in August, said the Redfin Data Center. He said the year, on average, went pretty well for him, but August was particularly difficult. Jeff Grant, owner and agent with Sand & Sea Investments, said August was the first month in a decade that he didn’t have any transactions. The monthly payment would have been around $4,634 last year, compared with $5,475 in August. The price of a resale single-family home, assuming a 20 percent down payment, has gone up considerably as a result of rates.
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