New San Diego single-family homes are harder to find than ever — and more expensive, too
Number of homes for sale in ’23: 20San Diego County home prices have dropped seven months in a row as of December, so Moeder said builders — who prefer prices to be as stable as possible when they release new supply — aren’t willing to ramp up building until things calm down.Despite builders’ caution, the region’s declining number of homes for sale means demand for new properties might be higher than ever.
The thinking among many potential sellers is that it makes sense to hang on to homes with lower interest rates and avoid higher rates with a new home, said real estate agent Samantha O'Brien. She said even if they were looking for a big payday for their property, many are hesitant to face higher mortgage rates — even if the idea of re-financing in the future is possible.
Sellers also might not be very eager to put their homes on the market as prices continue to drop. San Diego County’s resale single-family home priceSome of the most expensive new home options are in Poway. There is The Cottages at the Farm development near Interstate 15 where prices start around $1.2 million or at Homestead at the Farm where prices start around $1.7 million.
However, the Los Angeles-based developer finds itself with one of those large projects its competitors are known for in San Marcos called Ridgeview — and it might say more about the nature of housing approvals in California than the developer.
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