The U.S. Federal Reserve's decision to raise interest rates has caused a decrease in real estate transactions in San Diego, as higher interest rates make it more expensive to borrow money and many people are priced out of the housing market. University of San Diego Economics Professor Alan Gin noted that this decrease in demand affects other parts of the economy. However, Realtor Destiny Roxas sees opportunities, saying that sellers are willing to give concessions to incentivize buyers. Many economists expect interest rates to stabilize or be lowered in 2024 if inflation cools.
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