May 11th, 2010 categories: Buying San Diego Real Estate, Local San Diego News You Can Use, Market and Forecast Updates For San Diego, San Diego Real Estate, San Diego Real Estate News, Selling San Diego Real Estate
San Diego Home Prices Leading the Nation in Home Price Increases.
According to Zillow, San Diego home prices year over year have increased 3.5 % and other reliable analysts agree that San Diego’s bottom was met and prices are on the rise and now lead the nation. Out of 27 major market areas, San Diego lead the way of the 6 top markets showing ayear over year increase in price followed by 4 other California markets.
Good news for Homeowners and for home ownership. It seems pretty clear that if prices are going to continue to rise, short of any great new economic downturn on the horizon, this is a very good time to buy with prices still low and interest rates still affordable. Single family homes are up on average 4.5 % over the past year and condominiums were 2.2 %.
Buyers that want to buy a home at the ground floor level would be well served now to get back into the market and make hay will sun shines, which it does most of the year here in San Diego. There are still some very good bargains out there but the inventory is low and hasn’t had much increase in inventory. Think in terms of supply and demand and take action now.
I would highly recommend San Diego Buyers to realize that the time is now if you still want in at the bottom.