San Diego Home Sales
San Diego Home Sales
The firs
t of two important real estate reports released today was from the California Association of Realtors. this report just analyzed the detached single-family homes. The report showed that home sales for January 2012 increased by 15% over January 2011 in San Diego County. unfortunately, the same report showed that the home sales for January took a huge drop of 26.9%from December 2011. The median price of a single-family home last month was $350,680, down from January 2011’s figure of $370,100 and December 2011’s $359,930. Read more 
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 Sales Take Huge Fall
San Diego home sale
The median price of a home in San Diego County increased 2.9 percent in October according to La Jolla-based MDA DataQuick. The same report showed home sales in San Diego County fell 25.1 percent in October, compared to the same month in 2009.
San Diego September Home Sales
San Diego detached home sales for September 2009 vs September 2008. The data is for the median prices as published by the San Diego Association of Realtors. The selection of San Diego neighborhoods and production of the graph was by www.websitetrafficbuilders.com.
San Diego home sales
San Diego home sales
San Diego Home Sales Uptick
San Diego June real estate sales for both detached and attached homes increased, although modestly, in most neighborhoods.
If one considers seasonal factors, mortgage rates hovering around 5%, and the $8,000 Federal tax credit, the modest upticks should not be considered as conclusive proof that our San Diego real estate market has bottomed.
The San Diego sales data was derived from data published by the San Diego Association of Realtors and the graphs were produced by www.websitetrafficbuilders.com
San Diego home sales
San Diego condominium sales
San Diego Real Estate Market … Is This The Bottom?
As in any market, falling prices and increasing volume is not a bullish signal! I have no doubt the problems in the real estate market are deep but, things do seem to be thawing a bit.
Keep in mind, with thousands of homes on the sell side, who is going to power the much heralded rebound in prices? It could be a very long wait. Plus, more real estate problems lie ahead, such as rising yields on Treasuries, which will push mortgage rates higher, hurting any rebound in real estate sales.
Everyone compares this economic downturn to the 1930s. A better paralell is the 1870s when the railroad boom and bust caused cash shortages accross the country. It was also the point when the United States overtook England as the dominant country in the world. England didn't die, it just faded in power. That is what is happening to the US today while China is moving up. The difference is that the English government didn't pile on a bunch of debt to enslave the next several generations to the bankers like the US government has.
San Diego Real Estate Market Bottom?
Sure San Diego real estate sales are up, but, San Diego home prices are off double digits from last year. Plus, last year was a terrible year for real estate!
With the federal $8,000 1st. time home buyers credit and the California 5% – $10,000 new home buyers credit, if San Diego and California home values do not bottom soon… fasten your seat belt for large drops in fall/winter.
Millions of baby boomers are looking at delayed retirement and pension and savings shortfalls. They are reaching the age where they become net home sellers, not buyers. This is also not an environment in which one would expect housing prices to take off.
Homes do not appreciate automatically. A lower median price in a market does not imply that those homes appreciate. Japan experienced 12 years of declining realty values, and Japanese consumers had higher savings and lower debt levels than our current population.
San Diego Real Estate News
INFO THAT HITS US WHERE WE LIVE It was reported last week that foreclosure filings FELL 10% from December to January. Foreclosure prevention efforts by lenders and the government seem to be having an impact. In addition, Treasury Secretary Geithner announced last Tuesday a $50 billion initiative to help borrowers stay in their homes. Expect specifics in a few weeks.
We also had the median price for single family resale homes dropping in a majority of metro areas, year over year. But Q4 sales increased in six states, a sign that prices are adjusting to levels buyers don't want to pass up. We even had home prices RISING in ten metro areas across the country. On Tuesday The Wall Street Journal reported the number of homes listed for sale declined 2.5% in January in 29 major metro areas. This is particularly encouraging because January is a month when the inventory normally increases after the holiday sales lull.
Finally, interest rates on fixed-rate mortgages dropped last week. Freddie Mac's weekly survey of conforming mortgages reported that 30-year fixed-rate mortgages averaged 5.16% for the week ending February 12, down from 5.25% the previous week. To get this rate, borrowers had to pay an average of 0.7 points. The 30-year fixed rate is now down almost 1.5% from its peak last year. This post information was provided by: Greg Brooks southwest area manager San Diego Mortgage Network (800) 287-8292 x 225 San Diego homes for sale
San Diego Real Estate Appreciation
Reasons why a San Diego real estate bottom may not equate to San Diego real estate appreciation:
A. Very high unemployment rate in California.
B. California state government's massive debt.
C. More people are leaving California than moving to California.
D. 60% of Option ARMS (worth approx $750B in loans) of the entire nation are within California, the fact the majority of these loans will recast within the next 2-3 years.
E. Only about one in five can qualify for the average San Diego home (and that's after prices have already dropped almost 40% from their peak).
F. The myth of ‘you can’t lose investing in real estate’ has been broken.
G. San Diego recently has seen a softening in the rental market. San Diego MLS listings