May 2020 Real Estate and Mortgage Trends, San Diego, California
The housing market finds some footing for Spring and buyers continue to enter the market keeping demand alive. Potential buyers are taking advantage of the low rates and low competition. While national inventory remains low and sellers pull listings, more lower-priced homes have become available for buyers. Because there are a limited number of homes for sales, prices will keep stable with an expectant 2-3 percent fall by October.
While mandates slowly lift regionally, more motivated buyers will get out to buy.
Industry professionals feel home sales may not pick back up regularly until the end of quarter 2 and believe things will move quickly thereafter.
