San Diego County's place among the hottest housing markets in the country may as well be etched in stone as it appears to be a permanent fixture. According to a new report from ATTOM Data Solution, median home prices in San Diego continue to soar. While sellers can capitalize on the increases in their property values, average wage earners are struggling to enter the market.
The report notes that among the 446 counties analyzed nationwide, 326 (73 percent) posted a year-over-year decrease in affordability. This included California's Los Angeles, Riverside and San Diego counties.
Year-over-year price growth for a median home in San Diego is five percent according to ATTOM, among the highest in the nation. Meanwhile, wages grew a modest one percent causing affordability in the County to drop below the historical average.
Today, conforming no-point 30-year fixed mortgage rates averaging 4.375 percent, 15-year rates near 3.875 percent and the 5-year ARM averaging 4 percent.
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