Episode Details

San Diego’s housing market defied the trend, with median home prices hitting $1.099 million in July — up from June and higher than last year — even as sales dipped slightly. Across California, the market cooled: statewide sales fell and median prices dropped below $900K for the first time in four months, driven by stubbornly high mortgage rates that hit a 12-month peak. But there’s hope — inventory is showing signs of improvement, and with rates starting to fall, buyers may soon find more options as we head into the quieter part of the year. The average mortgage rate in July was 6.54%, down from last year, while homes in San Diego sat on the market 19 days — still faster than last year. It’s a mixed picture: prices keep climbing, but sales are cooling under economic pressure — yet the market’s resilience remains evident.

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