The median of how many listings were active in San Diego each day with a current list price that is lower than the original asking price during a given time period.
The middlemost final home sale price of all homes in San Diego within a given time period, where 50% of the sales were above this price and 50% were below this price.
A midpoint value that measures the final home sale price for all listings sold in San Diego, divided by the total above-ground square footage of the property (not the lot).
This value expresses how long it would take all of the currently active listings in San Diego to be bought up if no new homes came on the market. When the data is tabulated monthly, this metric is calculated by dividing the number of active listings by the number of home sales.
A mortgage is the agreement between a borrower and a lender giving the lender the right to the borrower’s property if the borrower is unable to make loan payments (with interest) within an agreed upon timeline.
A mortgage banker works directly with a lending institution to provide mortgage funds to a borrower. They can only obtain funds from a specific institution and are responsible for each part of the mortgage process, including property evaluation, financial due diligence, and overseeing the application process.
A mortgage broker shops several lenders, acting as a middle man between lending institutions and the borrower. A broker can compare mortgages from several different institutions, giving the borrower a better deal.
Mortgage insurance is a type of insurance policy that protects a mortgage lender if the borrower defaults on their payments, or is otherwise unable to fulfill the contractual obligations of the mortgage.
The MLS is an organization with a suite of services that real estate brokers will use to provide data about properties for sale. An MLS is a suite of around 700 regional databases containing their own listings.
Amortization refers to the process of paying off a loan with regular payments so the amount you owe on the loan gradually decreases. Negative amortization happens when the amount you owe continues to rise, regardless of regular payments, because you’re not paying enough to cover the interest.
The total number of homes just listed for sale on the market in San Diego within the last 7 days during a given time period. Excludes listings that were cancelled or withdrawn, and then re-listed again within 60 days of previously going off market.
A no cash-out refinance is a type of loan used to improve the rate the borrower pays on the loan. It might also shorten the lifetime of a loan to benefit the borrower. In a no cash-out refinance, the borrower refinances an existing mortgage for equal to or less than the outstanding loan balance.
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