Hunkering Down and San Diego housing market
George Lorimer
Wednesday, December 28, 2022
For 2023 experts predict pricing will remain flat from the end of 2022. Prices are lower today (Dec 28, 2022) than they were in May 2022 (highest prices). Experts note a decline of 6.5% to 8.5% from the highs from May 2022 to predicted prices through 2023. Much of this decline has already happened from September to December of 2022.
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The mortgage rates hit 7% in November and dropped to 6%. Many are getting adjustable at 4.5% and 2/1 buydowns in the 5% range.
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This video explains hunkering down and why there won't be a ton of homes on the market, and if you find one you like, consider buying it.