Aug. 15, 2017

Layne and Rachel Harrison

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As we are nearing the end of summer, we are still in a highly competitive sales market. The inventory shortage continues to cause home values to increase due to the high demand. This is evident because San Diego county has had a 9.8% increase in median home price over the past year. As for mortgage interest rates, the beginning of August saw a drop in rates leading to an increase in mortgage activity for both home buyers and homeowners. The lower monthly costs was just the incentive home buyers needed to get off the fence. Homeowners also took advantage of the lower rates during this time leading to highest volume of refinance applications since mid-June. For homeowners considering selling, the imbalance of supply and demand continues to make this a great time to put your home on the market. Now more than ever, home buyers need experienced guidance to make an informed decision. Contact us if you are considering buying or selling. Photo Credit: George Barnes