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Market Trends
Is there a housing bubble? Duh!
After more than three years of speculation, discussion and hype surrounding a housing bubble burst,
professionals within the San Diego County residential real estate market can no longer continue to deny its existence
and the large decrease in housing prices that we are experiencing.
According to several sources, we can expect from a 1% gain to a 13% decline in prices, depending on parts of town.
What about interest rates? Rising but still historically great.
"It's a small world after all." Despite the increases in short-term interest rates, the abundance of
available money in the world market continues to keep pressure on long-term interest rates. We continue
to experience historically low interest rates for homes. Additionally, the mortgage industry continues
to develop loan programs that also assist in keeping rates affordable.
Now that the FED has quit raising short term interest rates, things seem to have stabilized.
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