San Diego Real Estate - Mortgage Delinquency Rate Stabilizing
There was a recent drop in the reported number of delinquent loans in San Diego county. It is the first decline since the rate of delinquent mortgages started to rise in in 2006. Following this statistic, economists use this data to determine how many and where households are running into financial trouble.
I remember the headlines back in 2006 as the delinquency rates were rising and I don't think anyone could have anticipated what would follow for the last few years. They said it was was going to be extensive but little they realize then just how many homeowners would actually affected. When the market values that had been practically zooming out of the stratosphere, many feared that the home prices were going up way too fast and they most likely could not be sustained. You Think?
It seemed at the time that someone had pulled a switch and the market began tumbling and many with little or no equity were caught in the teeth of the monster devouring the market values of homes. The cycle continued for quite some time and the values in so many areas plummeted. That is all history now.
These new numbers seem to suggest that the bottom of the market has been realized and that San Diego County and several other parts of California may be leading the nation out of its housing nightmare. Wishful Thinking?
If you are Buying, Selling or Relocating to San Diego and
need help from a professional REALTOR®, give me a call or visit
my San Diego Real Estate website and
sign up for Listing alerts for your favorite San Diego
Home and Condominium Property Searches.
I specialize in Single Family Homes and Condominiums
throughout the coast and inland areas of San Diego.
Need Help and Guidelines for Buying or Selling a Home ? Check out my " Voice of San Diego Real Estate Blog "
Comments(6)