> San Diego home prices dropping, but rising interest rates are pricing buyers out of the market
San Diego home prices dropping, but rising interest rates are pricing buyers out of the market
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Description
Home prices across San Diego are dropping fast. Prices dipped 2.5% from July to August. But what does this really mean for buyers and sellers? Is the price of paradise finally coming down for home buyers?
Unfortunately, home prices are down because interest rates are now double what they were this time last year. So, don't be fooled by the headlines. First time home buyers and economists we talked to said San Diegans mortgage prices are now even more expensive.
Full story on CBS8.com: https://www.cbs8.com/article/news/local/paradise-at-a-price/home-prices-dropping-but-rising-interest-rates-are-pricing-buyers-out-of-market/509-295b6c01-6e92-4aa6-9423-7c32abda3ac1