San Diego Real Estate Blog
The National Association of Realtors® NAR reported that the February 2009 sale of existing homes in the U.S. including single family homes, San Diego Home Sales Rise in 2009condos, town homes and co-ops rose by 5.1% from the 2009 January sales numbers. This is great news for the real estate market especially here in San Diego. The Southern California Real Estate Market has seen a huge influx of buyers in early 2009. Some of this could be due to the great $8,000 Tax Credit for First Time Home Buyers and the $10,000 New Home Buyers in California. I am working with a lot of investors in the San Diego Real Estate Market and so are many other Realtors® I know.
This news is also coupled with the news of median home prices of existing homes across the nation has dropped 15.5% from February 2008. Buyers should delight in the fact that prices are low and interest rates are also down. San Diego REO or foreclosed homes in lower price ranges are getting multiple offers and are even having appraisal problems when selling because comps are lower than the new sales. These are good signs and investors and home buyers “especially new home buyers” are out in force in the San Diego area. The new foreclosures “dubbed the Next Wave” are hitting soon and from what I see the buyers will be there to gobble them up.
San Diego in 2009 should be a year of high volume sales!!!
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All Information is believed to be correct but not guaranteed.
