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San Diego Real Estate Market Update June 2009
By Roger Lee | June 19, 2009
San Diego residential real estate market has swung from the seller’s market of four years ago when home prices were increasing as much as 25% to 40% per year to the buyer’s market today where prices have decreased and there’s an abundant inventory of homes from which to choose. That’s good news for those looking to buy a home. Interest rates continue at record lows, at least for now.
The current condition of the housing market needs to be kept in historical perspective. Home values rose 87.6 percent on a national average – higher in San Diego – over the past decade. Sales continue to be hampered by problems in real estate finance. Both tighter underwriting guidlines and the ongoing effects of the credit crunch continue to limit sales. Buyers with verified income, assets and employment or all cash are not hampered by the constraints of the real estate financing market. In fact, several North San Diego County agents and brokers have experienced significant increases in activity in recent weeks, working with well-qualified buyers who recognize optimum buying conditions in which there are low interest rates and an abundant selection of homes on the market.
Topics: Carlsbad California Real Estate |
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