Hope Leitner, Realtor®, CRS

  If you’ve been hesitant to   list your house   because you’re worried no one’s buying, here’s your sign it may be time to talk with an agent. After months of high rates keeping buyers on the sidelines, things are starting to shift. Rates are already coming down due to a number of economic factors. And yesterday the  Federal Reserve  cut the Federal Funds Rate for the first time since they began raising that rate in  March 2022 . And while they don’t control mortgage rates, this sets the stage for mortgage rates to fall even further than they already have – especially since more cuts from the Fed are expected into next year. And lower  mortgage rates  are bringing more buyers back into the market. Lisa Sturtevant, Chief Economist at  Bright MLS , says: “A drop in the cost of borrowing will help fuel more homebuyer demand . . . Falling rates will also bring more sellers into the market.” The best part? You can  take advantage  of that renewed buyer interest. As Rates Fall, Buyer Activi

  With declining interest rates, I anticipate steady demand for homes this fall.   Below, you'll find the current month’s housing report along with data from previous months. San Diego County continues to face an inventory shortage, despite ongoing new construction.   Overall, home values remain stable. While there has been a slight dip in average prices, we are still within the same price range as we were at the beginning of summer. Whether you’re looking to buy or sell, this is a balanced market.   If you’re considering a purchase or sale, I encourage you to reach out. Let’s discuss your options in the context of our unique housing market, ensuring your decisions reflect the latest trends and realities.   If you know anyone who would like to receive this monthly market update, please share this link for them to sign up.   I’m always here to support my clients and their friends and family. Your Forever Agent,   Hope Leitner, CRS (858) 382-3763   Hope Opens Doors