San Diego Home Prices – The Key To The Future Trend
San Diego home price
San Diego home prices: will they improve, stabilize or continue to erode? Anything can happen especially when you consider there are potentially another 8 million homes that could be foreclosed on in the next 4 years. However, if you look at the current national average home price it is back to around 2003 levels, which is before homes values began to increase by double digits, the norm being 3-5% year prior to this.
The key to housing stabilization/improvement is job creation. Once the unemployment stabilizes and reverses, home prices will level out. The longer it takes for unemployment figures to improve, the lower home prices will go.
San Diego investment property
San Diego Real Estate … Time to Buy?
As San Diego home values plummet. The industry and almost all media outlets are proclaiming “It’s the time to buy! “ But, keep in mind this is almost an exact reply of the ‘news’ that was being proclaimed last year, and two years ago, and three years ago etc. Why, even in 2006 after the downturn was well under way, the ‘Indusrty’ line was “It’s a normal pull-back, creating a great buying oppurnity.”
Lot’s of flippers and investors were buying all through 2007. They are in deep trouble right now. Look at the graph below which we originally published on 9-26-09.
San Diego home prices
It may be that San Diego home values need another 10%-20% drop before a real bottom is reached. In a depression, home value of homes could fall 50% from where they are today. At least, that’s what happened in the great depression.
It is very tempting to rush out and buy investment properties. But it seems it’s still too early for that.
Chula Vista real estate
San Diego August Home Sale Prices
San Diego real estate median sales prices in August for single family homes.
The San Diego home price data was derived from data published by the San Diego Union Tribune and the graph were produced by www.websitetrafficbuilders.com
San Diego California home sales
San Diego Home Sales Up — Home Prices Down
San Diego home sales
According to DataQuick of La jolla, San Diego home prices for August fell by 7.1 % vs August 2008. The good news is that home sales in San Diego County rose by 5 percent in August, compared to the same month a year ago.
According to DataQuick, 21,502 homes were sold in the six-county Southern California region in August, down 10.8 percent from 24,104 in July and up 11 percent from August 2008.
San Diego Home Sale Prices
San Diego real estate median sales prices in July for single family homes.
The San Diego home price data was derived from data published by the San Diego Union Tribune and the graphs were produced by www.websitetrafficbuilders.com
San Diego home prices
San Diego East County Home Prices
North County San Diego Home Prices
San Diego home prices South Bay
San Diego real estate news
San Diego Home Sales Rise – San Diego Home Prices Fall
San Diego California home prices
Today, DataQuick real estate information reporting services of La Jolla Ca. reported that San Diego home sales increased by 20% , while median San Diego home price dropped 15.1% in June 2009 vs June 2008. Also, this same report showed home sales in the six-county Southern California region in June increased 29% over June 2008. But, here too, for the region, home prices dipped 26.4 %.
John Walsh, MDA DataQuick president talking about their report, said: “The rising median should still be viewed mainly as a sign the market’s moving back toward a more normal distribution of sales across the home price spectrum. Sales in many higher- cost neighborhoods couldn’t have gotten much lower, so this recent uptick in activity should come as no surprise. The recession and problem mortgages are fueling more high-end distress, hence more high-end `bargains.’ What’s missing, still, is a wide-open financing spigot for the would-be buyers of these more expensive homes.”