July 14, 2024

San Diego real estate marketIn San Diego, the volume of unsold homes is up 38% from last year, with 6,300 units on the market; 84% of unsold units are condos, according to PP&R. During the boom, San Diego also saw nearly 70% of borrowers use adjustable rate mortgages with low introductory rates; many of those are on the verge of adjusting to higher rates. “Rates are still low, but relative to the introductory rates, the readjustments will be significantly higher,” P&PR spokesperson “Now that credit standards have tightened up, getting refinanced is really difficult now. That’s really troubling.”[tags]San Diego real estate,San Diego real estate market,San Diego real estate bubble,housing bubble, real estate bubble[/tags] San Diego real estate agent

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