San Diego Real Estate Price Trends for February
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San Diego County Market Update
February 2010
Last month the San Diego County real estate market showed some normal seasonal behavior as prices declined, sales declined and interest rates declined. The average price of single family homes fell -3%, but are still up 14% from this time last year. Whereas, attached home price declined -2% and are up 5% from this time last year. The inventory of homes available for sale increased last month to 3.9 months which is the highest it has been in nearly a year. This is a combination of more homes put on the market at the first of the year along with a decrease in home sales in January.
Last month home sales declined -37% which again is an indication of normal seasonality. Foreclosures were 31% of last month’s sales while short sales were 27%. If anyone is having issues with mortgage payments and is considering foreclosure, please talk to us right away as a short sale is a far superior solution for distressed sales due to the reduced impact on credit and other consequences suffered with a foreclosure. Look for an upcoming article in our blog explaining these differences. Sign up on our blog for up to date real estate news affecting San Diego sent directly to you. More Real Estate News:
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Red: Detached(Single Family), Blue: Attached Source: Sandicor Multiple Listing Service
Source: Federal Home Loan Corp |
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