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Coronavirus delays Philadelphia's busy spring housing market

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<p class="p__0">Overall, San Diego's economy is quite strong. 30-year fixed-rate mortgages rates are extremely low. In September 2020, the rate was 3. 56 percent, near to an all-time low. Compare that to the very same time in 2019, which was 4. 6 percent. This is the most affordable it's been because 2016. 15-year fixed-rate home mortgage rates show a comparable story.</p>
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<p class="p__1">According to Trulia, long-term home mortgage rates are still on the decline. In spite of the increasing real estate costs, the low home mortgage rates make this potentially a best time to purchase. In This Is Cool to the first half of 2018, 2019 had roughly 22% more listings. And the number of listed houses is the greatest given that 2015.</p>
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<p class="p__2">Though it is the most affordable rate in the previous five years. The director of John Burns Real Estate Consulting, Dan Kuhn, has actually stated that this is from a growing divide between buyers and sellers. He claims that sellers are much less going to budge on their rate because they connect a lot of emotion into their single-family houses.</p>
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<p class="p__3">Meanwhile, purchasers are positive that the market has reached a price peak. This makes them less happy to desire to buy your home at a higher price. That variation is making houses stay on the marketplace longer and a less portion of homes being sold. Though homes are taking longer to sell in 2019 than in 2018, houses are still offering quite quickly.</p>
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<p class="p__4">---- San Diego house sales have continued to remain slow. They are down 8 percent from this time in 2015, and 70 percent of what they remained in the peak year of 2003. Data reveals that 18,979 homes were offered in the first half of 2019 as compared to 20,540 homes offered in the very first half of 2018.</p>
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<p class="p__5">Yet this does imply that only 49 percent of houses are being offered in 2019 as compared to 65 percent in 2018. Unlike in 2018, purchasers are not as positive in the market in general, according to John Yen Wong. The rising costs, increased listing, and the disparity between what buyers are prepared to pay and sellers aspire to offer at are triggering this relative dip in house sales.</p>
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