Production is down 8.1% from a year ago, according to the U.S. Census Bureau, contributing to limited supply.
“You know, anytime we see inflation and rates rise like this, I think you'll get a little bit of seller fear going on,” Hunter said. Still, despite the fewer homes and the skyrocketing interest rates, Hunter said this can be a good time to buy a home. “Now we're seeing our buyers, you know, get their offers accepted, they don't have to compete with 20 other people and all-cash offers,” she said.“You're dating the rate, but you're marrying the house. So you'll be able to refinance,” Hunter said.
According to Realtor.com, the average price for a home in San Diego was $899,000 in September, up nearly 13% from last year.
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