San Diego Home Sales Double Dip
San Diego home sales fell 20% in May according to a report issued today by Dataquick. DataQuick monitors real estate activity nationwide and provides information to consumers, educational institutions, public agencies, lending institutions, title companies and industry analysts. Keep in mind that from March through August is typically the hottest time for real estate activity. So, a 20% drop in home sales right in the middle of this period is a harsh reality for those in double dip denial. Read more 
San Diego Real Estate – A Bottom … Not A Reversal
When the San Diego real estate market hits bottom, it will be just that, a bottom, not a reversal. Don’t believe that home prices will spike up and shoot back up to pre-bust levels any time soon! I find that highly doubtful even if the economy were healthy in other sectors because who is going to fuel this reversal? Will it be the people who have foreclosures and short sales on their credit history, or another group of salivating sub-prime buyers?
Credit is tightening up to the point that home buying is truly back to where you actually have to put 5 to 20% down and have a decent credit rating. That will restrict the pool of available buyers considerably, which will prevent another ridiculous up-ride on the home price roller coaster.
The “bottom” will be the new median home price, according to what the local marketplace and income levels dictate, with modest year to year appreciation.
Until the ‘real’ bottom is reached in the San Diego real estate market, expect many false upward spikes driven by people looking at only one set of data and incorrectly timing the best time to buy.
Related prior posts:
#1 Key To Purchasing Real Estate in the San Diego Market
San Diego California Home Sellers Lose Big
The San Diego California Real Estate Great Depression
Believe the local San Diego ‘experts’ that subprime delinquencies are slowing?
San Diego County Foreclosures up 125% from 2007
Jumbo Financing and the Impact on The San Diego Real Estate Market
Another Look at the June Rise in Pending Home Sales
San Diego Home Sales
San Diego home sales recorded in March 2011. Percent Change is for the median price from the same month last year. This selected data is from published data from DataQuick — the nation’s leading independent provider of real estate information and analysis.
San Diego Real Estate Resales
| San Diego Neighborhood | Single-Family % Chg | Condominiums % Chg |
| Allied Gardens, Del Cerro | -9.8% | -18.9% |
| Clairemont | -15.3% | 37.3% |
| College | -1.2% | -8.0% |
| Downtown | n/a | -16.6% |
| Mission Valley | n/a | -22.3% |
| San Carlos 92119 | -4.9% | -24.8% |
| Scripps Ranch | -7.9% | -19.2% |
| Sorrento Valley | -8.1% | -4.5% |
| Tierrasanta | -5.9% | -16.2% |
| University City | -0.8% |
-24.7% |
San Diego real estate
San Diego Real Estate Sales
San Diego home prices
A report from the San Diego Association of Realtors shows that in the first three months of this year, home sales were down 4 percent compared to the first quarter of last year, but, even more troubling was a 9.5 percent drop in condominium sales for the same period.
San Diego Home Prices Increase
San Diego home prices
Today, the S&P/Case Shiller Home Price Index was released for January (index is calculated every month and has a two-month lag). The 20-area index real estate home sale prices report showed declines in 18 of the major metro areas, with just San Diego and Washington, D.C. showing home prices increases.
San Diego County Home Prices and Home Sales Drop
The median price of a home in San Diego County in February fell 4.3 percent according to a report issued byLa Jolla-based MDA DataQuick. DataQuick also reported that Home sales in San Diego County dropped 5.5 percent in February, compared to the same month a year ago.
DataQuick President John Walsh said about this report: “This spring we’ll see an infusion into the market of more traditional buyers, who aren’t necessarily purchasing with an investor mindset. If the stars line up right — low prices, low mortgage rates, available credit, higher job growth and higher consumer confidence — we could see sales shoot back up to more normal levels.”