New data released last week by the Greater San Diego Association of Realtors shows that home sales in the County stumbled from May to June as prices continued to climb. Sales of existing single-family homes and condominiums both fell month-over-month, dropping 13.6 percent and 16.2 percent, respectively.
The decline in sales coincides with sales prices increasing during the same period. Sale prices for single-family homes increased 2.4 percent while the cost for attached properties shot-up 3.5 percent. The median price of a single-family home in San Diego is currently at $674,900. This is up from $654,000 in June 2018.
This latest data shows a reversal in the San Diego housing market which had seen monthly increases in sales every other month so far in 2019.
Meanwhile, conforming no-point 30-year fixed mortgage rates are averaging 4.00 percent and 15-year rates are near 3.375 percent.
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