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What's Happening in the San Diego Housing Market?
What's Happening in the San Diego Housing Market?

New home sales dropped in February to record low levels across the US and San Diego shares in the new statistics. So what's behind all this as re-sales and prices vacillate only a little up and down each month giving the appearance of a more stable housing market.
Distressed properties , specifically the REO's  are being sold at prices that make it difficult for Builders' to compete. Builders have to pay some very high fees to local governments that makes it somewhat problematic  to come out of the ground unless current market prices  can justify doing so.
Builders like any other business have to make a profit to continue to be in business.

From all accounts, at least here in San Diego, the lower sales, may be just an aberration and not a trend  that should be of concern. What is also needing to be considered is that San Diego Building permits in San Diego county are actually up triple digits. In fact San Diego is a standout in the state where building permit numbers are down double digits.
You may remember a post that I wrote this past month referring to an ... more

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