Many experts think the answer is YES! With San Diego County home prices now exceeding the all-time high of the 2007 Bubble, and interest rates on the upswing, it may be the time to finally downsize. Or, if you have been thinking about selling and relocating to be closer to family or retire this may be your best opportunity! Here is what one local real estate market expert thinks:
Low inventories have made housing a “seller’s market.” Prices may rise further, but this will also be an issue for sellers trying to buy a new home. The Federal Reserve desires to raise interest rates gradually, but mortgage rates could climb faster than expected. Alternatively, economic growth could suddenly slow. Property tax reassessments are an important consideration, but if an individual desires to move to a different home, now is a good time.