San Diego County Housing Market Forecast
San Diego County Residential Real Estate Market Analysis: 2nd Quarter 2011
By Mark A. Melikian California Certified Residential Appraiser appraisals@san.rr.com P.O. Box 3051 Del Mar, California 92014 858-793-9339
This part3 of 3
Detached Housing Market Specifics – 2nd Quarter 2010 compared with 2nd Quarter 2011: Detached home sales data for the 2nd quarter of 2011 shows the highest number of sales were in the $300,000-$400,000 price range. This is consistent with the 2nd quarter of 2010, when the highest number of sales were in the same $300,000-$400,000 price range (see figure 5). Read more 
San Diego County Housing Market Outlook
San Diego County Residential Real Estate Market Analysis: 2nd Quarter 2011
By Mark A. Melikian California Certified Residential Appraiser appraisals@san.rr.com P.O. Box 3051 Del Mar, California 92014 858-793-9339
This part 2 of 3
Market Overview: The mean sold price for a housing unit in San Diego County peaked in 2007 at $621,675. The mean sold price in 2009 decreased to a low of $399,200, a 35.8 percent decrease from the market peak in 2007. *In 2011, the projected mean sold price is $413,794, which would represent a 3.7 percent increase from the 2009 mean sold price and a 33.4 percent decrease from the market peak in 2007 (see figure 3).
San Diego County Housing Market
San Diego County Residential Real Estate Market Analysis: 2nd Quarter 2011
By Mark A. Melikian California Certified Residential Appraiser appraisals@san.rr.com P.O. Box 3051 Del Mar, California 92014 858-793-9339
The following is a market data summary of detached and attached properties as reported by the San Diego County MLS system. The data includes all zip codes in San Diego County. * All 2011 data in figures 1 through 4 will be projected based on market data taken from January through June as reported by the San Diego County MLS system. All projections discussed in this analysis will be updated throughout the year in subsequent quarterly reports.
San Diego Real Estate Market Overview:
The data provided analyzes residential real estate sales beginning in the year 2000, which is used as the base year. The number of sold listings in San Diego County peaks in 2003 at 42,746 units and decreases through 2008 to 23,972 units. *The 2011 projection shows the total number of units sold for the year will be 31,190 (see figure 1).
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Pending Home Sales Rise For Second Straight Month
Pending home sales
were up in June for a second straight month in a row according to a report released today by the national Association of Realtors. A pending home sale is one where a contract to purchase has been signed but the sale has not closed yet. Typically, it could take 4 to 6 weeks from the time the contract is signed before the sale would actually closes. Read more
Home Prices Case-Shiller
Home prices… today the Case-Shiller home price index of 20 major metropolitan areas was released. The index, the the. From April through May when unadjusted for seasonal factors showed a very slim 1% increase on average.When viewing this data, one should keep in mind that the. From mid-March through the end of August is typically the strongest seasonal marketing time for real estate. Read more
Jobless Claims Up – Fed Admits Cash For Clunkers A Failure
San Diego housing market – Today’s video is about a rise in initial jobless claims. How does that affect the San Diego housing market? Actually, in two ways: #1, for the real estate market to build any kind of meaningful base, the unemployment numbers must improve; #2, watch this video carefully, and you’ll see where the government admits that its’ cash for clunkers program was a failure. It has been my contention that the government’s home buyer credit of $8000, which was modeled after the cash for clunkers program, was also a dismal failure. I believe it’s just a matter of time before one of the regional Fed branches admits this fact like they did today with their cash for clunkers program.
In my June 2, 2011 post: Existing Home Sales Take Huge Drop I said “The problem is there was never any real recovery in the US economy or the US housing market. Both were boosted by artificial governmental stimulus. The $8,000 Federal housing rebate was nice for many San Diego home buyers. But, if that was their main impetus to purchase a San Diego home last year, they may now be sad to know that the value of their home has subsequently gone down well more that the amount of the tax rebate they received.” Read more