Is it finally getting easier to buy a home?
Yes — After several years of rising rates and limited supply, home affordability is finally improving. Lower mortgage rates, steady income growth, and more balanced pricing are making ownership feel possible again — especially across San Diego County.
Rates Are Drifting Lower
After peaking at 20-year highs, mortgage rates have eased into the mid-6% range, giving buyers hundreds in monthly savings compared to last year. A 1% rate drop can increase purchasing power by roughly 10%, opening doors for those who paused their search in 2023.
Prices Are Stabilizing
Across San Diego, home values are holding strong — a sign of lasting stability and buyer confidence. From La Jolla and Rancho Santa Fe to Pacific Beach, Encinitas, and Solana Beach, each coastal community is performing well, with steady appreciation reflecting both lifestyle appeal and enduring demand.
Incomes and Inventory Are Rising
Local wages have grown steadily, and listings are gradually increasing. Together, these trends are easing the affordability gap — allowing more qualified buyers to reenter the market without the bidding frenzies of past years.
What This Means for Buyers
- Run the numbers again. If you paused your search in 2023, today’s rates and price stability may change what you can afford.
- Get pre-approved early. Locking in a favorable rate while they’re trending lower gives you leverage.
- Work with local experts. Markets vary block-to-block in San Diego — having a seasoned team makes all the difference.
For Sellers: Opportunity Returns
Improving affordability doesn’t just help buyers — it benefits sellers, too. More qualified buyers mean stronger demand and faster, cleaner offers. Pricing, as always, remains the most important factor in selling homes.
Why Work with Maxine & Marti Gellens
We’ve sold multiple homes in La Jolla, and across Del Mar, Encinitas, Solana Beach, Carlsbad, and Rancho Santa Fe, plus many more throughout San Diego. We’re the #2-ranked team per the SDBJ for medium teams and the #2-ranked by volume in San Diego for 2024 per RealTrends, with over 2,100 homes sold and $3.625B in career sales.
We bring insight, discretion, and strategy to every transaction — whether you’re listing a bluff-front estate or relocating within your own neighborhood.
