San Diego housing prices dropped for the fourth straight month in October, but rental costs remain some of the highest in the nation. Experts say the recent drop is a simple market adjustment after record-high inflation shot prices upward. More info:
SAN DIEGO – Inflation, rising minimum wage, and the FED’s recent interest rate adjustments have combined to sling housing prices through the roof in California, especially in the nation’s greatest city: San Diego.
However, the outrageous home prices and global increases in the cost of living have driven down demand, leading to a four-month trend in dropping housing prices. Rental pricing in San Diego remains some of the highest in the country, affecting those in San Diego not yet looking to buy. KUSI’s Diane Tuazon went live in Pacific Beach to talk about the city’s housing and rental trends, addressing local and national variables that continue to direct the market.
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