San Diego County’s median home price was unchanged in October as the number of sales hit its lowest level since winter.
Analysts say there are two factors that have pushed sales down: Lack of homes on the market and potential buyers increasingly less likely to go over asking prices.
“It’s not that there aren’t buyers. It’s really the lack of inventory,” said Gary Kent, a La Jolla-based real estate agent.
Kent said he has asked clients if they would consider selling homes but keeps running into the same issues: People think they can get more money if they wait, or there are so few homes for sale that homeowners worry if they sell their home, they won’t be able to find another one to buy.