San Diego Real Estate Market Update May 2022 San Diego Realtor Clayton Connolly brings you the Housing Market Numbers for May 2022. Going into depth on how the rising will affect you as a Buyer or a Seller.

What Does Rising Interest means to you?

This is Clayton Connolly, your real estate captain speaking, bringing you today, the May 22 real estate market update. So if you have not seen yet the real estate market is shifting. One of the main topics of conversation these days, interest rates.

So interest rates have almost doubled in some cases since January of this year. And it's necessary for the fed to do this to slow down some of the rate of inflation. But what does that mean to you? As a buyer right now, it means that maybe that $800,000 house that you could afford at a certain payment, it may be a little bit lower towards the 700,000s.

But the good news is this, there's a lot less competition which means maybe instead of what we were witnessing before of paying 50, 80, a $100,000 above asking price, that may have subsided a little bit. So take advantage of this time when there could be less competition. Now for sellers, you're still in a good position because it's all about supply and demand. And currently right now, there's very high demand and still very low supply.

So if your home is priced accurately and we do the right kind of marketing, chances are you'll still be able to sell at an all time high. If you'd like to learn more, I'd love to set some time aside for a free consultation or to do some real estate planning, please reach out and I'd love to see you. Thanks.

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