There is a lot of press in the last week about signs of recovery for the national real estate market.  On a local level in San Diego, the signs have been showing themselves for the last few months in a variety of ways:

1.  Home prices declined 1% from February to March where it declined 2.1% from January to February.
2. Sales of existing homes in San Diego have increased each month since January.  Sales were up 18% from February to March for resale SFR’s.
3. When tracking median home prices year over year by month, the rate of decline has improved 12.37% from March 2008.

While the worst may be behind us, we will still need to contend with the coming tidal wave of REO properties in the next 6 to 9 months.

Until that inventory clears, we will not know how stable the market will be.

Best regards,

Mark and Kari Shea
San Diego Real Estate Experts
Foreclosure, Short Sale & Investment Specialists,
Development Opportunities & Traditional Real Estate

This entry was posted on Wednesday, April 29th, 2009 at 9:38 pm and is filed under San Diego Market Conditions, San Diego Market Data, Buying Real Estate in San Diego, Real Estate News, Real Estate Values. You can subscribe via RSS 2.0 feed to this post's comments. You can skip to the end and leave a response. Pinging is currently not allowed.