December Home Sales Hit a Low Note, and Prices Dip Slightly

San Diego County home sales ended on a low note in December, closing out a year of fluctuating inflation and mortgage interest rates. Data on the current resale market is compiled by the Greater San Diego Association of REALTORS® (SDAR) through the San Diego Multiple Listing Service (SDMLS).

Sales of single-family homes were down more than 21 percent in December, compared to December 2022, and were lower by almost 9 percent from the previous month. Attached properties (condominiums and townhomes) saw a drop of 10 percent from a year ago, and nearly 14 percent from November. Sales inventory is possibly a silver lining, with the supply of homes reaching 3.5 months – representing the number of months it would take for current for-sale homes to sell, given a monthly sales volume.

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