In the wake of rising interest rates in June, many would-be home buyers retreated to the sidelines, hopeful that fewer buyers might result in price reductions. While that might be true in some markets, it is unlikely in San Diego where July single family home prices increased by 9.8% compared to a year ago. The driving force behind the high prices remains inventory – demand in San Diego County still outpaces supply. New listings for July fell by 19.3% year over year and closed sales were down...
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