The Market Has Found Its New Normal

For the past few years, one question has dominated the housing market.

“When will things go back to normal?”

The answer may surprise you. I do not think the market is going back to what it was. Instead, I think we are watching a new normal take shape.

Mortgage rates recently fell to 6.43%, their lowest level in nearly two months, while San Diego’s median home price climbed back to $910,000, just shy of last year’s record. Rather than waiting for dramatically lower rates or significantly lower prices, buyers and sellers are beginning to adapt to today’s market.

What This Means for Buyers

While affordability is still a challenge, buying conditions have improved compared to the last few years.

More homes are available for sale, properties are taking longer to sell, and buyers have more opportunities to negotiate repairs, credits, and favorable terms. The market is still competitive, but it is no longer the frantic environment we experienced just a few years ago.

What This Means for Sellers

The good news is that home values remain incredibly strong.

San Diego home prices continue to sit near all time highs, showing just how resilient our local market has been. At the same time, buyers have more choices than they did a year or two ago. That means preparation, pricing, and marketing have become more important than ever. The homes that stand out are selling.

My Take

This is one of the healthiest markets we have seen in quite some time.

Buyers finally have more options and negotiating power, while sellers are still benefiting from historically strong home values. That balance creates better opportunities for both sides and allows people to make thoughtful decisions instead of feeling rushed.

Reach out if you have been wondering whether now is the right time to buy, sell, or simply want to understand what these changing market conditions mean for your home. I’ll help you build a strategy based on your goals, your timeline, and today’s market, so you can make your next move with confidence.