It may be summer in America’s Finest City but that’s not keeping the housing market sizzling. Home price growth in San Diego has begun to level off compared to the steep price increases seen last summer.
Median home prices in San Diego are still climbing but over the past twelve months it has been a quite modest 1.9 percent increase, according to Zillow. The online real estate site expects the tepid growth to continue through next year.
With home prices leveling off and mortgage rates at their lowest levels in over a year, demand for housing in San Diego is expected to remain strong through 2020.
Meanwhile, conforming no-point 30-year fixed mortgage rates are averaging 4.00 percent and 15-year rates are near 3.375 percent.
Do you have a question for Real Estate & Mortgage Analyst Mehran Aram? Submit your queries about a home purchase, refinance, or reverse mortgage via Aramco.Biz, social media (#AramcoReport), or over the phone at (866) 381-8888 and your questions may be featured in an upcoming article.