Why Buyers Are Waiting Even Though Rates Are Falling
There’s a shift happening in the real estate world, and it’s creating a few surprises for both buyers and sellers here at home.
You’ve probably seen the headlines. Mortgage rates have started to drop. For homebuyers around the country, that should be great news. Lower rates mean more purchasing power and slightly smaller monthly payments.
But here’s the catch. Even with rates easing, many buyers are still sitting tight. They’re watching, waiting, and hoping for either a bigger rate drop or more homes to choose from. That hesitation is shaping the market in new ways and creating opportunities for those ready to act.
What’s Going On Nationally
Mortgage rates, which were climbing earlier this year, have now dipped to some of the lowest levels we’ve seen in months. At the same time, home price growth is slowing as sellers start adjusting and, in some cases, reducing their asking prices.
You might think that would trigger a surge in demand. But it hasn’t. Buyer activity is still muted. High prices, limited inventory, and a cautious economic outlook are all keeping people on the sidelines a little longer.
What This Means for You in San Diego
If you’re a seller in San Diego County or anywhere around North County San Diego, this is the time to plan carefully. The buyer pool is smaller, but the motivated ones are out there. Homes that are priced right, presented well, and move-in ready are the ones that stand out and sell. If you wait too long or overprice, you risk losing valuable momentum.
If you’re a buyer, this market may be quietly turning in your favor. With fewer bidding wars and more flexibility among sellers, you have a chance to negotiate better terms. But to take advantage, you need to be prepared with your financing and know what neighborhoods you want to focus on.
Key Takeaways
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Mortgage rates are lower, giving buyers slightly better affordability, but prices remain high.
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Buyer demand is still cautious, which means sellers need to stay realistic.
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For sellers: get your home in top shape and price it for today’s market, not last year’s.
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For buyers: get preapproved, know your target neighborhoods, and move quickly when the right home appears.
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Local knowledge is everything. Every area of San Diego behaves differently, so work with a local Realtor who understands the trends.
If you’re curious about how these shifts might impact you, whether you’re thinking about selling your home in San Diego or finally buying, I’d love to chat. Let’s look at the latest local data together so you can make the right move with confidence.
See you next week for another San Diego Housing Market Mondays.
