Spotlight
San Diego County Market Overview | May 2023
Jon Granston | June 13, 2023
Jon Granston | June 13, 2023
Existing-home sales declined 3.4% nationwide for the second consecutive month, attributed to higher interest rates impacting buyer affordability, according to NAR. Compared to the same period last year, sales are down 23%, and contract signings dropped 20.3%. Prices have decreased 1.7% nationally but are rising in more affordable markets. Closed and pending sales have decreased significantly for both detached and attached homes. Inventory is down, while median sales prices have dropped. Fluctuating interest rates and a shortage of inventory are contributing to lower home sales, with homes selling quickly due to limited supply.
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| $2.76 billion | Los Angeles County, CA |
| $1.35 billion | Orange County, CA |
| $932.01 million | Santa Clara County, CA |
| $598.41 million | Cook County, IL |
| $509.26 million | San Mateo County, CA |
| $3.23 billion | Riverside County, CA |
| $1.12 million | Clark County, NV |
| $569.49 million | Maricopa County, AZ |
| $272.75 million | Travis County, TX |
| $259.93 million | Yavapai County, AZ |
