Home Sales Up … Home Prices Drop
The New York-based Conference Board's monthly forecast released today, showed that existing home sales rose 6.5 percent in December, as the median home sales price plunged 15.3 percent. The decline is the largest year-over-year drop in records going back to 1968.
The Conference Board also said unemployment could rise to 9 percent from 7.2 percent as the country remains in an intense recession through spring. San Diego Realtor
San Diego Rental Market Softens
RealFacts research reported that the San Diego County apartment market rental rates and occupancies softened in the fourth quarter. Some landlords have begun offering move-in discounts to try to get tenants away from other complexes. San Diego rental property owners are starting to feel the economic pinch. San Diego MLS listings