Home prices steadily climb in San Diego and nationally. With increased prices and increased interest rates, many buyers are forced out of the housing market making housing affordability a problem. Many first time home buyers, who do not have cash for large down payments, can not afford the large housing payment which comes with a little down payment. Surprisingly however, there are enough buyers out there who can, at least in San Diego, keeping demand for first time, well priced homes high. Until demand weakens, or there is a shift in the economy, expect to see prices increase in the 3rd and 4th quarter in San Diego. Demand is just too great.
Tami McCraw
