June 25, 2013
The San Diego Union-Tribune reports that according to the S&P/Case-Shiller report that San Diego home prices were up 15% over one year ago. Prices were also up 4% over a month ago.
The Case-Shiller report covers 20 major metro areas. The reports data is also 60 days old so this report covers the month of April. And since the report is for sold properties it actually means that the transactions which ended up as closed sales were initiated some time in February or March.
The San Diego Union-Tribune reports that San Diego area foreclosures fell to a 7 year low. This is obviously great news to home owners who are seeing their property values improve dramatically in recent months.
The number of households with underwater mortgages decreased by 850,000 nationally in the first quarter of this year according to CoreLogic. This is good news for home sellers of course but even better news for home buyers as more home owners will feel confident about placing their homes on the market thus improving the number of homes available to purchase.
June 11, 2013
San Diego home prices up 21%
The San Diego Union-Tribune reports on DataQuick’s May housing sales statistics that show home prices up 21% over last year in San Diego County and up 2% of May of this year. As the article point out, low interest rates are driving buyer demand for property. From what I’m seeing in the MLS, more home owners are placing their homes up for sale now than during the last few years.