30yr fixed rate mortgages have been dropping lately from 6.5% at the beginning of 2023 to about 6.19% for the beginning of Feb 2023. Fed is expected to raise interest rates a quarter point this month. Hopes are that the Fed will begin to lower rates later in the fall of 2023. Quick rise in interest rates have slowed the Real Estate market but there are still homes for sale. The combination of rising interest rates and homeowners who have decided to wait for a better market before listing their homes is keeping inventories low. Interested in purchasing a home, you will find that you have negotiation power in this current market. Homes are staying on the market for longer, giving sellers the ability to negotiate on the purchase price. The past 2 years has been a seller market putting pressure on home buyers but the pendulum has swung the other way and now the buyers hold a lot of the cards in negotiation.
Interested in moving to San Diego, Q Homes would love to help you find your perfect home. There is always a good deal somewhere and we promise to do our best to find them for you at Q Homes. Click on the link for our website. www.qhomescarlsbad.com.