There will be more headlines about home sales being down – way down – and people might wonder if it means anything. Not really – it’s because there are fewer homes for sale.

It looks like it will continue too.

Last year in San Diego County there were 2,686 detached-home listings in May, and this month we’ve only had 1,114 with a week to go. In May, 2019 there were 3,559 listings!

Can sellers price it in?

Mortgage rates hit 7% again yesterday (with no points), and it’s doubtful that they will come down much once the debt crisis is solved. It’s going to be easy for potential home buyers to pack it in earlier than usual this year and the summer market is likely to be squishy – at best.

Stay tuned!

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