« Carlsbad, San Marcos, & Oceanside California Real Estate Market | Home | Real Estate – it’s not going away! »
July 03, 2009 San Diego housing market showing some recovery
By Roger Lee | July 3, 2009
A spurt in residential home sales that started in some of California’s more affordable inland areas have began to spread to several more expensive coastal areas, another indicator that the California’s real estate market may on it’s way to recovery.
In Perspective
- Many homes in the lower spectrum of the market are receiving multiple offers for mostly every property, with some prospective buyers bidding well above asking prices. Inventory levels for homes priced under $500,000 stood at 3.2 months in May 2009, compared with 9.4 months in May 2008.
- Some buyers, especially those in higher-priced areas such as the San Diego Area, are newly optimistic about buying real estate and are realizing that the combination of historically low interest rates, favorable real estate prices, and first-time home buyer tax credits incentives may not come back for many years.
- Although the median price in the state has risen for four consecutive months, prices in some higher-income neighborhoods still are declining. Some speculators say that declining prices in these neighborhoods are a reflection of buyer’s’ problems getting a jumbo mortgage to purchase these homes.
Topics: Carlsbad California Real Estate |
Comments
You must be logged in to post a comment.