San Diego Home Sales Hit Near-Record Lows in 2025

Elevated prices, low inventory, and other factors kept buyers and sellers on the sidelines.

Published on Feb. 25, 2026

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San Diego County home sales closed out 2025 at one of the lowest levels on record, with just 27,117 homes sold. Experts attribute the sluggish market to several lingering issues, including low inventory as homeowners with locked-in low mortgage rates are unwilling or unable to move, and affordability challenges as home prices remain much higher than wages. Long-term issues like slowed home building and high capital gain taxes have only compounded the problem.

Why it matters

The decline in home sales has had a significant impact on the local real estate industry, with thousands of jobs affected. It also reflects broader economic challenges in the San Diego housing market, with implications for buyers, sellers, and the overall economy.

The details

The 27,117 home sales in 2025 rank as the third lowest on record, behind only 2023 and 2024. Experts cite several factors for the sluggish market, including low inventory as homeowners with locked-in low mortgage rates are unwilling or unable to move, and affordability challenges as home prices remain much higher than wages. Long-term issues like slowed home building and high capital gain taxes have only compounded the problem.

  • San Diego County recorded 27,117 home sales in 2025.
  • The lowest home sales on record were in 2023 with 25,317 sales, followed by 2024 with 26,235 sales.
  • In 2007, during the housing market crash, there were 33,020 home sales.
  • In 1995, when the economy was sluggish, there were 31,268 home sales.

The players

Attom Data Solutions

A real estate data company that provided the home sales data for San Diego County.

Bill McBride

Author of the economics blog and an expert on the housing market.

Chris Anderson

A San Diego County real estate agent with more than three decades of experience.

Raylene Brundage

A North County real estate agent and co-chair of a licensing task force for the California Association of Realtors.

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What they’re saying

“The move-up market kind of died.”

— Bill McBride, Author of the economics blog

“There's fewer deals for agents. It's had an impact, and people depend on it. It's all I do. I don't have another job.”

— Raylene Brundage, North County real estate agent

The takeaway

The decline in San Diego home sales reflects broader economic challenges in the local housing market, with implications for buyers, sellers, and the thousands employed in the real estate industry. Addressing issues like low inventory, affordability, and high capital gain taxes will be crucial to reviving the move-up market and supporting the overall health of the San Diego housing sector.