San Diego Five Year Price Trends Second Quarter 2009
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San Diego Five Year Trend
Second Quarter 2009
The average sale prices of homes in San Diego County have been on a steady decline since the second quarter of 2007. This is the sharpest and longest decline we have witnessed in San Diego County (-46% in 7 quarters). The prices are at the same level they were in the first quarter of 2002. However, on the brighter side, the “experts” expect the prices to reach the bottom during the second quarter of this year.
The charts to the left indicate the average values for each quarter over the last five years.
The number of home sales in San Diego County for both single family homes and condos last quarter has increased back to the level they were in 2006.
The mortgage interest rates are extremely low today at less than 5%. These low rates will not be with us for long as the Federal government is holding them down as part of the economic stimulus package.
Obviously this is a great time to buy as many big investors are aware and are now buying. Remember, first time home buyers (anyone who has not owned a home in the last 3 years) receive an $8,000 tax credit if they buy this year.
The majority of our real estate clients come from referrals. Could you please do us a favor, if you hear of someone who is buying or selling a home please keep us in mind? Send us an e-mail or give us a call. |
Red: Detached(Single Family), Blue: Attached Source: Sandicor Multiple Listing Service
Source: Federal Home Loan Corp
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