Is The San Diego Real Estate Market Going To Crash?

San Diego’s housing market is feeling the pressure of rising mortgage rates. Pending home sales fell 13.1% year over year in September while closed sales dropped 9.3%. Higher payments are pushing buyers to the sidelines and discouraging homeowners from selling, creating a slower market where limited supply could keep prices from falling sharply. However, there are still opportunities to buy and sell, but expectations need to be adjusted. Buyers should negotiate thoughtfully, and sellers should respond to what buyers can afford in this market.