Real Estate Cycles
Real Estate Cycles
We are all governed by cycles. Our bodies go through daily cycles, the stock market is very cyclical, and many of our major industries are noted as being cyclic. It should be no surprise that our entire economy is directly affected by economic cycles. Since the summer of 2005 the San Diego real estate has been in a down cycle. Although prices are down, the potential for much larger declines through 2007 has a high probability. For San Diego real estate investors, there is still time to exchange your ‘paper’ profits for ‘cash’ profits. You’re just a phone call away from a no obligation, no pressure market analysis of your property’s true resale potential. San Diego mls listings
[tags] real estate, housing, housing market, San Diego real estate, real estate bubble, California real estate, San Diego home values[/tags]
CONSTRUCTION SPENDING & HOUSING STARTS CONTINUE DOWN
The annual pace of construction spending continued its seven-month drop in October, falling 0.5 percent from a year ago to a seasonally adjusted annual rate of $1.18 trillion, according to a recent report from the U.S. Census Bureau. Residential construction spending declined 9.4 percent compared with one year earlier, standing at a rate of $605 billion, while the value of nonresidential construction activity rose 13.6 percent to a rate of $573 billion, according to the report.
In California, data from the California Building Industry Association (CBIA) reports a similar decline, with new-home construction during October falling 29 percent when compared with the construction pace recorded one year earlier. Based on the number of building permits issued, 10,520 new housing units were started throughout the state in October, and while multifamily construction continues to be strong, particularly in the state's major metropolitan areas, single-family construction is down 30 percent for the first 10 months of the year. San Diego California real estate broker
[tags] housing, housing market, San Diego real estate, real estate bubble, California real estate, San Diego home values[/tags]
Real Estate Stats
Calif. median home price – October 06: $548,680 (Source: C.A.R.) Calif. highest median home price by C.A.R. region October 06: Santa Barbara So. Coast $1,115,000 (Source: C.A.R.) Calif. lowest median home price by C.A.R. region October 06: High Desert $328,650 (Source: C.A.R.) Calif. First-time Buyer Affordability Index – Third Quarter 06: 24 percent (Source: C.A.R.) Mortgage rates – week ending 11/30: 30-yr. fixed: 6.14%; Fees/points: 0.4% 15-yr. fixed: 5.87%; Fees/points: 0.4% 1-yr. adjustable: 5.46%; Fees/points: 0.7% (Source: Freddie Mac) San Diego downtown condos
[tags] housing, housing market, San Diego real estate, real estate bubble, California real estate, San Diego home values[/tags]