The San Diego real estate market is stable. The total months of inventory increased slightly from last month. The entry level market is still very strong. The mid-market plugs along. We saw a slight dip in the months of inventory at the high end of the market.
With the extension and expansion of the homebuyer tax credit, I expect we will continue to see a very strong entry level market through to next summer. In fact, I expect that it will again result in dramatic price increases on the order of 10-15% from now until the end of the summer.
I believe we will see more inventory chewed off at the mid-level. I don't see prices increasing much, until the market absorbs another two months of inventory.
We should probably see a slight decrease at the upper end of the market, but it will continue to remain distressed. In fact, with the effective elimination of the stated loans designed for the true self employed person, we will continue to see prices decline at the higher end of the market.
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Robert T. Boyer, Ph.D.
Licensed Realtor® #010791063
RobertBoyer.Realtor@gmail.com |
San Diego Foreclosures and Real Estate Investment Property
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