How is SLO County’s housing market faring? Here’s what the data shows
As November came to a close and high inflation begins to ease, the Federal Reserve suggested slowing interest rate hikes to keep price increases down.
That’s good news for the San Luis Obispo County housing market, which has seen a notable slowdown in sales this year thanks to higher borrowing costs.
According to Freddie Mac, 30-year fixed-rate mortgages hit their peak Nov. 10 at 7.08% — the highest rate since 2007 — but they have since fallen to 6.49% as of Dec. 1, a sign housing markets across the country are cooling.
That’s still high, but SLO County’s market trends over the past two years suggest this softening market may be here to stay for at least the near future.
Looking for where the prices are lowest and rents are most affordable? We’ve got you covered.
Each graph is updated each month when new data becomes available.
This story was originally published December 6, 2022 at 9:00 AM.
