Should I Buy A House in 2023 Living in San Diego, CA

[@fattie2550]

Don’t listen to sales people. Hold off until the 2nd/3rd quarter of 2023.

[@CoastalSanDiegoHomes]

Thanks for your comment. I'd love to hear your thoughts on this. Here is what we are seeing in the field everyday. Rates are anticipated to be raised again today by a 1/4 basis point. We view this as good. Considering the fed raised rates several times by 3/4 and then most recently by 1/2. It appears this could be the last rate hike for a long time. What we know from our time in the field is that there is still a very limited supply of inventory but a huge pent up demand of buyers sitting on the sidelines waiting and ready to buy. So, once rates increases ease, we anticipate a lot of buyers jumping back in the market in Q2 and Q3. This will create more competition amongst buyers and at minimum keep prices where they are and at most raise prices again. So, we feel waiting to buy is a bad idea. We are helping our buyers with 2:1 rate buy downs and then we will help them refinance once rates do go down. Right now, they are able to negotiate very well on price and get great terms that they weren't able to get when the buyer competition was so strong. We are real estate advisors to our clients and simply advise on what we see in the market everyday and provide them as much information as possible so they can make the most informed decision. I would be interested to hear your thoughts on why waiting until Q2 and Q3 is a better time to buy than now. Thanks, John

[@fattie2550]

@@CoastalSanDiegoHomes You are not looking at all the white collar workers who are starting to be laid off. Those are the people who are buying homes. They are on the sidelines right now but once they are ready to buy they will not have those huge pay checks. I will reach out to this channel in 6 months to see what has happened.