Are Rising Interest Rates Killing The Housing Market in San Diego?

If you're thinking of buying a house in San Diego, you might be wondering if now is the time to do it. After all, interest rates are on the rise, and that could mean trouble for the housing market. But is that really true? Are rising interest rates killing the housing market in San Diego? Let's take a closer look.

It's no secret that interest rates have been on the rise lately. In fact, they've been climbing steadily for the past few years. And while that might make some people hesitant to buy a home, it's important to remember that mortgage rates are still relatively low by historical standards. That means there's still a good chance to get a great deal on a home loan.

Of course, rising interest rates do have an impact on the housing market. When rates go up, it becomes more expensive to borrow money for a home purchase. As a result, some people who would otherwise be able to afford a home might be priced out of the market. Additionally, higher mortgage rates can lead to increased monthly payments, which could make it more difficult for people to keep up with their mortgage obligations.

However, it's important to remember that interest rates are just one factor that affects the housing market. There are other factors that can offset the impact of higher rates, such as strong economic growth and job creation. Additionally, many people who are looking to buy a home are already homeowners, so they're not as sensitive to changes in interest rates. In fact, according to recent surveys, most people believe now is still a good time to buy a home in San Diego.

So what does all this mean for you? If you're thinking of buying a house in San Diego, don't let rising interest rates deter you. Yes, they may have an impact on the market, but there are other factors that can offset that impact. Plus, mortgage rates are still relatively low by historical standards. So if you're thinking of buying a home in San Diego, now may be the time to do it!

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Having sold properties for more than 17 years and earning various prestigious awards throughout the course of her career, Melina Rissone has more than earned her reputation as one of San Diego's most skilled and trustworthy real estate brokers. Her following of loyal clients is a testament to the level of dedication she puts forth in every transaction she oversees.

Hardworking, attentive to detail, and a strong negotiator when it comes to the financial aspect of buying or selling a home, Melina gives clients a competitive edge when it comes to accomplishing their goals in the best and most lucrative manner.

Passionate about real estate and its possibilities, Melina supports all things "real estate" and, in addition, specializes and is certified in the following:
* Coldwell Banker Global Luxury and Institute of Luxury Home Marketing certified.

*Cartus Network Inventory Specialist and Cartus Network Marketing Specialist since 2015. This means more accurate pricing, shorter marketing times, and higher adjusted sale rates when working with us.

*RCS-D Designation, a Real Estate Collaboration Specialist for Divorce.

*SRES Certification through NAR is a Seniors Real Estate Specialist certification.

Whether clients aim to purchase the home of their dreams, sell a property, or make an investment for their future, Melina's market expertise, proven foresight, and meticulous planning strategy ensure a successful endeavor each and every time. Melina is bilingual in English and German.
Melina has been recognized as the Top 4% of all real estate brokers in San Diego County in 2021 and the Top 3% of Coldwell Banker International. She has been awarded the Coldwell Banker Presidents Elite Award.