San Diego Housing 2010 Forecast

San Diego housing forecast

How easy it would be to go along with the Industry line and jump on the over-hyped small increases in real estate sales and in some cases monthly home price increases. But, to me at least, it seems very clear that home price stabilization is temporary unless something new is done.

Here are some facts to help project what housing will be like in 2010:

• 13.54% of the 44.7 million mortgages tracked by the Mortgage Bankers Association are delinquent.
• 7.57 million homeowners are delinquent, applying the same percentage to the 11.2 million mortgages not tracked by the MBA (55.9 million total mortgages in the U.S.). That means that 10% of all homeowners in the country are delinquent.
• Based on historical trend analysis by Amherst Securities, 6.94 million homes that are already delinquent will be liquidated, which is more than a one year supply of distressed sales poised to hit the market sometime in 2010 and 2011. During Q1 2005, that figure was only 1.27 million.
• Defaults continue to grow at the rate of approximately 300,000 per month, assuring that the number of distressed sales will grow and will continue through 2012.

San Diego real estate agents