Introduction

Chad Dannecker: I’m Chad Dannecker, coming to you with your mid-May San Diego County housing market update as we head into Memorial Day weekend.

Interest Rates

First off in the news—the big news here really is the mortgage rates. Inflation appears to be roaring its head again. And of course, interest rates, we got down to 5.99% in February and March, and then here we sit today. We spiked up to 6.75% this week, kind of settled back down to about 6.625% today, but that’s going to affect our affordability for sure.

I talk about this because the big news is the CPI index, the Consumer Price Index came in and it was the largest gain in three years. It was 3.8%, and then when you take the core component, which you strip out food and energy, it still came back at 2.8% at an annualized pace. And so it kind of feels like oil is bleeding into everything, right? Because you think of oil, you think of gasoline, you think of plastics, you think of delivery for all the shipping and delivery to get all the goods to different places. So, it’s really showing up right now.

What it really is, it’s just a shift in the affordability dynamic that we had that was better than last year. We were saying, “Hey, everything’s better than last year, right?” Rates were better than last year. And now it’s getting more close to “same as last year.” Depending on different times of the year, because of course, in April of last year, rates were higher than they were this past April. A lot of our numbers we’ll be talking about will be the April numbers, beginning May numbers.

Active Listings Inventory

Active inventory right now: I guess the one good thing to hold values in place is that we’re seeing less homes come on the market. As long as we don’t get too much inventory, that will help protect values if interest rates keep heading up right now. In the last two weeks, active inventory is actually down 2%, which is kind of interesting.

Demand Year-Over-Year

In terms of demand, our pending home sales demand is up 7% year-over-year. It’s really surprising given that mortgage rates have taken a jump recently.

But again, we’ve got to take a look at last year, and rates were up over 7% last year. They hit 7%—they crept up over 7% on three different occasions last year in the spring. So it really kind of slowed our market down, and then it stayed slow for the summer.

Expected Market Time

Expected market time: we’ve got a different dynamic between detached homes and condos and townhomes right now.

• Detached homes: Actually decreased. The days on market decreased from 80 to 75 days.

• Condos and townhomes: It actually increased from 96 to 98 days.

So we’ve got that kind of dual dynamic where single-family homes are outpacing condos and townhomes still. Seems to be kind of an ongoing trend that we’ve seen.

Closed Sales (Market Fact)

There’s kind of an interesting statistic that came out this week, and it was: 57% of homes the last month sold at or above the listing price. I’m going to say that one more time: 57% of homes sold at or above the listing price.

Market Breakdown by Price Range

Real estate is hyper-local. Every market is different depending on the price range, and of course, every market is hyper-local. Something going on in Point Loma might be completely different than what’s going on in Del Mar or what’s going on in Rancho Santa Fe.

(A visual breakdown of San Diego County Market Breakdown by Price Ranges & Market Speed was shared on screen to close out the update).

Overall Trends

• The “Turnkey” Sweet Spot: What we’re finding that’s selling is updated homes that are turnkey—homes that are ready to move into. That could be a full remodel. We see a lot of different companies out there rehabbing homes, and those homes are generally selling quick, and they’re selling at or above list price. We wrote offers on two this week; they both had multiple offers.

• The High-Impact Updates: Even if you are not a contractor that does flips, it’s always a good idea if you can to update your kitchen. New and updated kitchens are a big hit for buyers today; updated bathrooms are a big hit. At the very minimal: painting, new carpet, hard surface flooring if possible in high-traffic areas, new light fixtures, and getting the landscaping cleaned up for curb appeal. All of those go a long way for a fast sale and top dollar.

• Precision Pricing vs. Emotion: Homes that are priced well are selling best, based on the most similar sales comparables. Sellers can’t hide anything from buyers, so we might as well just position your home where it should be positioned in the market. This is not based on feelings. People say all the time, “Well, I feel like my home’s better.” It is an emotional thing, but sometimes emotion can cloud judgment. Overpricing mixed with rising interest rates really is not going to work well.

Conclusion

Chad Dannecker: That’s all I’ve got for you. Have a great holiday weekend, enjoy yourselves, stay safe, and have some fun out there. I’m Chad Dannecker. Catch you later!

If you’ve been waiting on the sidelines or feeling discouraged by the landscape, there is some refreshing news on the horizon. Recent data suggests that the tide may finally be turning, providing buyers with a much-needed edge at the negotiating table.

The Rising Trend of Seller Concessions

A recent report highlights a significant shift in seller behavior. According to data from Realtor.com:

• 38.9% of sellers expect to make concessions this year.
• This marks a notable increase from just 30% in 2025.

  2025: [███████████████] 30%
  2026: [███████████████████] 38.9%

This upward trend indicates a growing flexibility among homeowners. As the market stabilizes, sellers are realizing they can no longer dictate every term of the transaction. For buyers, this translates directly into more room to negotiate than they might think.

What Exactly Are Seller Concessions?

If you are new to the home-buying process, “seller concessions” refer to agreements where the seller agrees to cover certain costs associated with buying the home. These are often used as an incentive to close a deal, especially if a property has been sitting on the market longer than expected.

When a market leans heavily toward sellers, these perks virtually disappear. However, in the current landscape, savvy buyers can strategically use concessions to reduce their out-of-pocket expenses.

Common Concessions You Can Ask For

Understanding what to ask for can make a monumental difference in your overall financial layout. The right ask could potentially save you thousands of dollars. Here are a few common concessions to consider:

• Closing Cost Assistance: Sellers can contribute a specific dollar amount or percentage toward your closing fees, lender costs, or title insurance. This keeps more cash in your bank account on moving day.
• Rate Buydowns: You can negotiate for the seller to pay points to temporarily or permanently lower your mortgage interest rate, significantly decreasing your monthly payment.
• Home Repairs or Allowances: If a home inspection reveals minor issues (like an aging roof or outdated electrical elements), you can ask the seller to address them before closing or provide a financial credit so you can handle the repairs yourself.
• Home Warranties: Requesting that the seller purchase a one-year home warranty can give you peace of mind against unexpected appliance or systems breakdowns during your first year of homeownership.

Navigating Your Next Move

Every real estate market is local, and what works in one neighborhood might not apply to another. Having an experienced professional by your side ensures you don’t leave money on the table.

Want to know exactly what you can ask for as a buyer in today’s market? Let’s chat. Crafting the perfect negotiation strategy can ease the financial burden of moving and set you up for long-term success.

For personalized guidance and to explore your options, reach out today:

• Contact: Chad Dannecker
• Email: information@welcometosandiego.com

Data Sources: https://www.realtor.com/research/2026-sellers-survey-btts/

Introduction

Chad Dannecker: Hi, I’m Chad Dannecker with Dannecker & Associates at Compass, coming to you with your late April San Diego County housing market update.

Interest Rates

First off in the news with interest rates—rates took a pretty good hike at the end of February with the whole conflict in Iran. They took a pretty solid jump within about a two-week period up to 6.625%. They settled back down a little bit to about 6.3% and then took another jump last week with everything going on to 6.5%, and we sit at about 6.4% today.

I talk about interest rates because they really do matter. San Diego County was one of the top five most unaffordable metros in the nation, and so even just small swings—quarter percent, half percent swings—can definitely impact our San Diego market.

Active Listings Inventory

Active listings right now: we’re up 5% in the last two weeks and 2% lower than last year. So, we’re kind of sitting in this same zone as last year, just not as many listings as we thought we would see on the market right now. I think a lot of people are kind of holding off to see if things in the Middle East settle down because they would expect if interest rates get lower, we’ll probably see more activity in the market.

Demand Year-Over-Year

In terms of demand, our demand sits—in the last two weeks we’re up 1%, which is about 17 sales. That means 17 more pending home sales in the last two weeks. And that’s 6% higher than it was last year.

That makes sense if we go back to interest rates; last year we were up in that 7% range at this very moment in time. So the fact that we’re sitting at 6.4% today is a pretty significant difference—more than a half percent. We talk about those interest rates affecting and impacting the market just because of the affordability in San Diego County and how expensive things have become.

Expected Market Time

Expected market time: we went from 80 days two weeks ago to 84 days today. Last year we were at 91 days. So, times are actually shorter; homes are selling faster this year at this time than they were last year because, again, interest rates are lower.

Even though you might be feeling the impact at the pump with the cost of things, dining out, and groceries, interest rates are lower, so buyers are still active in this market—definitely seeing active buyers in the market.

Closed Sales (March Recap)

For closed sales finishing up March (it takes about a two-week lag for all the information to come through from the San Diego Association of Realtors): there were 2,057 home sales in March, which is actually up 11% from last year. That’s a pretty good bump in volume in terms of the number of home sales in the county. We saw that on our team; we actually sold quite a few homes and had a good first quarter.

Market Breakdown by Price Range

Real estate is hyper-local. It depends on location, whether it’s an attached home (condos) versus a detached home, and the price range.

The big jump you really see is in the $4M – $6M range, which dropped from 300 days down to 158 days. That’s almost half the time, which covers a lot of coastal San Diego.

Overall Trends

• The “Sweet Spot”: Detached homes between $1.5M – $2M are the hottest market segment in coastal areas, selling in 57–75 days.
• Luxury Market ($2M+): Slower sales pace requiring “precision pricing.” Homes over $8M face extreme market times (4+ years).
• Attached Homes (Condos): Significantly slower than detached homes due to high HOA dues, rising insurance, and mortgage rates.
  • Issue: Many buildings are only 15–30% funded in their reserves, leading to big special assessments.
  • Issue: New laws requiring balcony inspections are revealing expensive repairs for older wood buildings.
• Affordability Crunch: Entry-level condos under $500k have slowed to a 114-day market time (up from 104 last year).

Conclusion

Chad Dannecker: That’s what I’ve got for you today. Again, my name is Chad Dannecker. If you have any questions about real estate in San Diego, I’m always happy to help. Hope you have a great weekend. Thanks!

The downtown San Diego skyline, historically defined by its proximity to the sparkling Pacific and the legendary silhouette of the USS Midway, is currently undergoing its most significant architectural and economic transformation in decades. At the epicentre of this evolution is the Research and Development District (RaDD), a 1.7-million-square-foot life science and mixed-use campus that is doing more than just adding glass and steel to the horizon—it is fundamentally redefining the lifestyle, vibrancy, and real estate value of the 92101 zip code.

The Waterfront Renaissance: How the RaDD is Redefining Luxury Living in Downtown San Diego

Spanning six city blocks and 10 acres of what is arguably the most valuable urban waterfront real estate in California, the RaDD is a master-planned catalyst. It represents a shift from downtown being a “9-to-5” government and financial hub to becoming a world-class innovation district where the brightest minds in biotech live, work, and play in a seamless urban environment.

New Anchor for Urban Lifestyle and Tourism in Downtown San Diego

For the residents of downtown and the millions of tourists who visit annually, the RaDD serves as the “missing link” that finally connects the sophisticated quietude of the Marina District with the high-energy North Embarcadero. By converting underutilized parking lots and industrial blocks into a high-tech garden city, developer IQHQ has created a destination that prioritizes the pedestrian experience over the automobile.

The Green Lung: Public Spaces and Recreation

The RaDD’s contribution to the city’s “quality of life” metrics begins with its commitment to open space.

• The 1.7-Acre Park: Centrally located within the district, this green space acts as an urban meadow. For residents of nearby high-rises who lack private yards, this park provides a critical space for recreation, community events, and unobstructed views of San Diego Bay.

• The Pedestrian Paseo: A curated public artwalk weaves through the district, featuring 18 contemporary artworks. This isn’t just a walkway; it’s a cultural gallery that connects the city’s urban core directly to the water’s edge, encouraging walking and exploration.

Curated Retail and the “New” Downtown Dining

Historically, downtown retail was often criticized for being either too “tourist-centric” or strictly catering to the lunch-break office crowd. The RaDD is breaking this mold by curating “best-in-class” retail and outdoor dining that targets the sophisticated local resident.

• Lifestyle Brands: Iconic brands like Rivian and The Shade Store have already established a presence in the district as of 2026, signaling a shift toward high-end lifestyle retail.

• Waterfront Dining: The district’s design features multiple levels of terraces and outdoor seating, allowing diners to enjoy San Diego’s near-perfect climate while overlooking the bay. This adds a level of “nightlife” that is sophisticated and community-oriented, rather than the high-noise environment of the nearby Gaslamp Quarter.  Javier’s Mexican Restaurant is under construction.

Impact on 92101 Residential Real Estate: The “Innovation Premium”

The economic gravity of the RaDD is creating a “halo effect” on residential property values throughout the 92101 zip code. By introducing over one million square feet of lab space, the district is attracting a high-earning demographic of scientists, researchers, and tech executives who have historically been forced to commute to Sorrento Valley or La Jolla.

1. Appreciation and Demand

As of early 2026, the 92101 housing market has shown remarkable resilience. While other urban centers have struggled with office vacancies, San Diego’s pivot to life sciences has kept residential demand high.

• Median Sale Price: The median price for condos and townhomes in the area has stabilized at approximately $763,000, reflecting a steady upward trend as the RaDD nears full activation.

• Price Per Square Foot: Luxury units in the immediate vicinity of the waterfront are frequently commanding between $1,100 and $1,500 per square foot, driven by the desire for proximity to this new innovation hub.

2. The Demographic Shift

The RaDD is facilitating a transition from an “investor-heavy” market toward an “owner-user” market.

• Stable Residency: Biotech professionals typically look for long-term primary residences rather than short-term rentals, which leads to more stable, community-focused residential buildings.

• High Purchasing Power: The high salaries associated with the life science sector provide a strong “floor” for property values, protecting the 92101 market from the volatility seen in more speculative urban areas.

The Proximity Advantage: Park Place and Bayside Condos

For residents of legacy luxury buildings like Park Place(700 W Harbor Dr) and Bayside(1325 Pacific Hwy), the completion of the RaDD is a transformative event that directly enhances their daily lives and asset values.

Park Place: Enhanced Walkability and Value

Located just a short walk from the RaDD, Park Place residents now enjoy a significantly improved “walk score”.

• Access to Amenities: Residents can now bypass the car entirely to access high-end fitness options like Equinox (planned for the area) or the new waterfront dining options at the RaDD.

• Asset Insulation: The influx of high-net-worth professionals working at the RaDD provides a new pool of potential buyers for Park Place’s expansive, Mission-style residences, ensuring that these homes remain some of the most sought-after in the Marina District.

Bayside, known for its sleek modernism and prime location along Pacific Highway, sits on the very doorstep of the RaDD.

• Neighborhood Vibrancy: Previously, the area immediately surrounding Bayside was dominated by the North Embarcadero Visionary Plan’s open space, which was beautiful but lacked daily utility like retail or dining. The RaDD fills that void, providing Bayside residents with an “urban backyard” filled with amenities.

• The “Cool Factor”: Being adjacent to the most advanced life science campus on the West Coast adds an intangible “prestige” to Bayside, appealing to a younger, tech-savvy generation of luxury buyers.

Sustainability and the Future of the City

The RaDD isn’t just about economic growth; it’s a blueprint for a sustainable San Diego.

• Eco-Friendly Infrastructure: The district features one of the largest electric vehicle charging infrastructures in the region and utilizes 100% renewable energy for its operations.

• The Transit Link: By being situated near the Santa Fe Depot and the Trolley lines, the RaDD encourages a car-free lifestyle for residents of 92101, further reducing the carbon footprint of the downtown core.

The Challenge: A World-Class Urban Core

Chad’s Pespective – While everything you’ve just read is theoretically what should have played out for the RADD development, sadly this is not exactly how things have unfolded.  First off, the office buildings remain empty and the developer is taking a huge loss on the project.  The retail spaces are taking much longer to lease out than anticipated so the paseo, while very nicely designed, feel like an abandoned village.  The beautiful 1.7 acre park is often filled with homeless people and is not bustling with life of downtown residents or employees from the office towers (the would be employers don’t yet exist).  This is an example of, “If you build it, they will come” that has gone wrong, at least for the near term.

While there is so much future opportunity for Downtown San Diego real estate and lifestyle, it will take a radical shift in goverment policies and ideologies to tackle the homeless issues and make downtown safe and vibrant again.   

To learn more about downtown San Diego Real Estate, visit us online at www.welcometosandiegorealestate.com 

There’s one decision you’re going to make when you sell that determines whether your house sells quickly, or it sits. Whether buyers make an offer, or scroll past it. Whether you walk away with the maximum return, or you end up cutting the price later.

And that’s your asking price.

The #1 Mistake Sellers Make Today: Trusting the Wrong Number

If you’re thinking of moving and trying to figure out what your house may sell for, it’s tempting to start with an online home value tool. They’re fast, free, and easy. And you don’t have to talk to anyone. But here’s the problem: they don’t know your house.

And that can be a bigger drawback than you realize.

Where Online Estimates Fall Short 

Online tools often lag behind the market. They look in the rearview mirror, relying on closed sales and delayed information. And in that sense, they’re using incomplete data.

That’s not a miss in how these systems are built. Some information just isn’t available online. Bankrate explains:

“While these tools can be a useful starting point, keep in mind that they typically do not provide the most accurate pricing. Algorithms can only rely on the information available; they can’t account for things like a home’s condition or renovations made since the last public information was updated.”

They can’t see:

• The unique features that make your house special
• All the work you’ve put in to keep it in good condition
• Or, how in-demand your specific neighborhood is right now

So, while they may do a good job in some cases, they can’t be as accurate as a local agent who has boots on the ground day in and day out.

In a market where buyers have more options, a seemingly small margin of error can cost you thousands if you price too low, or weeks of lost momentum and time if you price too high.

If you want to sell for the most money and in the least amount of time, you don’t want the fast answer on how to price your house. You want the right one.

That’s why the savviest homeowners today don’t rely on algorithms when it actually matters. They rely on people, specifically trusted local agents.

What an Expert Agent Brings to the Table

According to 1000WATT, sellers overwhelmingly believe real estate agents have the best sense of a home’s true value, far more than any automated tools.

That confidence isn’t accidental. As Bankrate puts it:

“A professional appraiser or real estate agent can visit the home in person, assess the neighborhood as a whole as well as the individual property, perform more thorough market research, and consider subjective details.”

And those details matter. A skilled local agent doesn’t just pull reports. They know what’s happening right now:

• What buyers are paying this month, not last month, or even last year
• How your home compares to the current competition in your neighborhood
• Which features add value based on what buyers are willing to pay for today
• How to price your house to create urgency in this market

And once an agent steps foot in your house, they may even find your online estimate undershot your value. So, if you stuck with the estimate you got online, you’d actually be leaving money on the table. And no one wants that.

Bottom Line

While online tools can give you a rough starting point, only a local expert can give you a price that actually works.

If you want to know the right number for your house, not just the easiest one to find, let’s talk.

After a long stretch where buyers were competing for too few homes, inventory has made a comeback over the past year. And depending on where you live, that’s opening up your options in a meaningful way. 

According to Realtor.com, the number of homes available for sale in January was the highest it’s been since 2020. Here’s why that’s such a big deal. Getting back to pre-pandemic levels signals a slow and steady return to what’s typical:

Now, it’s worth noting, nationally we’re not there yet – and having more inventory improving won’t suddenly “fix” the market. But the growth we’ve seen lately still changes how competitive the market feels.

• When there are more homes for sale, buyers gain time, options, and leverage.
• When there aren’t, the pressure ramps up quickly.

In the years since 2020, there weren’t enough homes for sale, and that made the market feel different. Rushed. Stressful. Intimidating.

But now it’s finally getting better.

A Growing Portion of the Country Is Getting Back to Normal

Depending on where you live, inventory growth is going to vary. Some places are bouncing back faster than others. According to Lance Lambert, Co-Founder of ResiClub, in January 2025, just a little over one year ago, only 41 of the 200 largest metros were back to normal inventory-wise. 

But around the end of year, almost half (90) of the largest 200 metro areas were back at or above typical levels. That’s a big improvement in roughly a year. And it’s not done yet. 

Inventory Is Expected To Keep Growing 

Looking ahead, forecasts suggest the number of homes for sale could rise another 10% this year, which means even more markets should join the list of places where supply has rebounded.

Here’s a graph that shows what an extra 10% would do for the market this year. You can see that projected growth (shown in the dotted line) hits inventory levels seen in 2017-2019 by roughly this fall (the gray lines). That means we may reach normal by end of year, nationally:

And that changes your home search in a good way. As Hannah Jones, Senior Economic Research Analyst at Realtor.com, puts it:

“. . . housing market conditions are gradually rebalancing after several years of extreme seller advantage. Buyers are beginning to see more options and modest negotiating power as inventory improves . . .”

In other words, the market is starting to work with buyers again — not against them.

Bottom Line

Inventory isn’t fully back to normal everywhere. But it’s moving in the right direction. And, in some areas, it’s already there.

If you’ve been waiting for a moment when you have options and a little breathing room, this is the strongest setup buyers have seen in a long time.

If you want to know what’s happening in our local market, let’s talk.

For a growing number of homeowners, retirement isn’t some distant idea anymore. It’s starting to feel very real.

According to Realtor.com and the Census, nearly 12,000 people will turn 65 every day for the next two years. And the latest data shows as many as 15% of those older Americans are planning to retire in 2026. And another 23% will do the same in 2027.

If you’re considering retiring soon too, here’s what you should be thinking about.

Why Downsize?

Now’s the perfect time to reflect on what you want your life to look like in retirement. Because even though your finances will be going through a big change, you don’t necessarily want to feel like you’re living with less.

But odds are, what you do want is for life to feel easier.

Easier to enjoy.

Easier to manage.

Easier to maintain day-to-day.

The Top Reasons People Over 60 Move

You can see these benefits show up in the data when you look at why people over 60 are moving. The National Association of Realtors (NAR) finds the top 4 reasons aren’t about timing the market or chasing top dollar. They’re about lifestyle:

• Being closer to children, grandchildren, or long-time friends so it’s easier to spend more time with the people who matter most
• Wanting a smaller, more functional home with fewer stairs and easier upkeep
• Retiring and no longer needing to live near the office, so it’s easier to move wherever you want
• Opting for something smaller to reduce monthly expenses tied to utilities, insurance, and maintenance

No matter the reason, the theme is the same: downsizing isn’t about giving something up. It’s about gaining control and choosing simplicity. And it brings peace of mind to know your home fits the years ahead, not the years behind.

And the best part? It’s more financially feasible now than many homeowners would expect.

The #1 Thing Helping So Many Homeowners Downsize

Here’s the part that makes it possible. Thanks to how much home values have grown over the years, many longtime homeowners are realizing they’re in a stronger position than they thought to make that move.

According to Cotality, the average homeowner today has about $299,000 in home equity. And for older Americans, that number is often even higher – simply because they’ve lived in their homes longer.

When you stay in one place for years (or even decades), two things happen at the same time:

• Your home value has time to grow.
• Your mortgage balance shrinks or disappears altogether.

That combination creates more options than you’d expect, even in today’s market.

So, whether you just retired, or you’re about to, it’s not too soon to start thinking about what comes next. Sure, it can be hard to leave the house you made so many years of memories in, but maybe it’s time to close one chapter to open a new one that’s just as exciting. 

Bottom Line

Downsizing is about setting yourself up for what comes next – on your terms.

If retirement is on the horizon and you’ve started wondering what your current house (and your equity) could make possible, the first step isn’t selling. It’s understanding your options.

Let’s talk. A simple, no-pressure conversation can help you see what downsizing might look like – and whether it makes sense for you. 

If you’re one of the thousands of homebuyers waiting for rates to fall, you should know it’s already happening. And they recently crossed an important milestone. Rates officially dipped their toes into the 5s – something that hasn’t happened in about 3 years.

This moment marked a critical threshold. Now, rates are sitting in the low 6% territory. And expert forecasts project they’ll hover near this range throughout the year.

Here’s why that’s so good for you.

Why Current Rates Are Such a Big Deal

A mortgage rate doesn’t just affect the interest you end up paying on your home loan. It shapes your entire buying experience.

When rates were up around 7% just one year ago, a lot of buyers felt priced out. Payments were higher. Budgets felt tighter. Affordability was a bigger challenge. That’s especially true for first-time homebuyers, who felt the biggest pinch.

But according to industry experts, that’s starting to change now that rates are slowly inching down. Let’s break down why.

Right now, borrowing costs are in their lowest range in almost 3 years. And that can change the type of home you can afford.

At 6% or below, you’ll see:

• Lower monthly payments. The payment on a $400k home loan is down over $300 compared to when rates were around 7%.
• More buying power, thanks to the extra breathing room in your budget.

In other words, you can now make a stronger offer, purchase in a different location, or buy a home that checks more of your boxes. And that feels like a big shift compared to when rates were at 7%.

This Opens the Door for 550,000 Buyers

To drive home just how much this helps potential homebuyers like you, consider this research from the National Association of Realtors (NAR). It shows that when mortgage rates sit around this level, millions more households can afford a home. When rates are at 6% or below:

• 5.5 million more households can afford the median-priced home
• And roughly 550,000 of those people will likely buy a home within 12 to 18 months

That’s not just speculation. That’s pent-up demand finally getting the green light they’ve been waiting for. You’ve got the chance right now to get ahead and buy before more people notice the game has just changed.

Because whether rates stay in the low 6s or dip back down into the upper 5s, the math is already working in your favor. And the difference from a low 6% to a high 5% isn’t as big as you may think. But the difference from 7% to 6%? That is very much a big deal, and it’s a number that’s already working in your favor.

An Important Call Out

Mortgage rates don’t operate in a vacuum. Home prices, local inventory, property taxes, home insurance, and your personal finances still matter.

And a rate in this territory doesn’t mean every home suddenly works for every buyer. That’s why getting pre-approved and running your numbers with a trusted lender is key.

Still, this rate environment puts more buyers in play than we’ve seen in years. So, if buying didn’t work for you before, it’s worth taking another look.

Bottom Line

Mortgage rates dropping to a 3-year low isn’t just a headline.

For many buyers, where rates are now could be the difference between watching from the sidelines and finally getting the keys to their next home.

If you’ve been waiting for a sign to re-run your numbers and see what’s possible now, this is it.

Let’s take a look at what today’s rates mean for your budget and your options.