AGENT MLS HOME FINDER

The San Diego real estate market has been heralded by experts throughout the country as one of the strongest and most resilient in the nation amidst a windfall of bad news and dire economic times. San Diego is also frequently cited as one of the most likely to recover quickly from the collapse of the sub prime mortgage market. This is not to say that San Diego escaped without any damage from the massive economic downturn – all sectors of real estate in San Diego felt the effects of the recession in one way or another. The bottom line is that San Diego was one of the least heavily damaged communities during the recession, and will most likely be one of the first to post a strong recovery.

According to an August 25, 2009 article in the North County Times, “A report released Tuesday showed local home prices surging in June, the second straight monthly gain after a breathtaking three-year fall. Standard and Poor’s Case-Shiller Home Price Index for San Diego County rose 1.6 percent in June after a smaller increase in May. Taking the index’s tiny drop from March to April into account, the index rose at an 8 percent annual rate over the three months.” An article by Union-Tribune staff writer Dean Calbreath, stated that “Rebounding stock prices, a more positive outlook for the national economy and cautious optimism among local consumers provide growing evidence that San Diego’s economy is on the way to recovery…”

An August 18, 2009 article in the San Diego News Network noted the opinion of a prominent economist, saying that “An expert economist sees good things for the San Diego real estate market. Lawrence Yun, chief economist for the National Association of Realtors, said the local market is buoyed by a tight housing inventory and federal tax incentives.” This is a positive indication for houses in San Diego, which can expect additional offers and sales in the future. An August 26, 2009 article in the Union-Tribune indicated that “In a further sign that the housing slump may be ending, a closely watched national pricing index said San Diego County values were up for the second straight month.”