San Diego County real estate market refuses to collapse after the federal tax credit expired

Many experts were predicting a collapse of the real estate market beginning in May 2010 since the federal tax credit expired in April. Such has not proven to be the case here in San Diego County. Both the number of sales and the median home price are steadily increasing, and interest rates are still low!

The median home price of $335,500 in June was slightly lower (1.3%) than May but was up 6.8% from June 2009, the ninth consecutive month of year-over-year increases. January 2009, when the median home price reached a low of $280,000, appears to be the bottom of the San Diego real estate market. The historic high was in November 2005 when the median price reached $517,500.

Total home sales for San Diego County has also been on the upswing, with 3,885 homes selling in June 2010, up just slightly from May's 3,879 homes but up 5.4% over June 2009. June 2010 sales were the highest of any June in the past four years.

As the median price continues to rise, the affordability index continues to drop. In November 2005, only 7% of San Diego's households could afford to buy a median-priced home.

Interest rates are still at historic lows, so if you've been sitting on the fence, it might be a good time to climb on down and give me a call so I can help you find your new home. If you don't have a lender to work with, I'll help you find a good one. I know several.

If your intent is to live in your home, raise your family there, and perhaps even retire there, it's always a great time to buy, but especially so right now with interest rates still at record lows and before increasing home prices put your dream home out of reach for the foreseeable future.

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If you're looking for a great real estate agent in San Diego, well,
let me Google one for you.

I'm available 24/7, so feel free to contact me by phone or email.

Jim Frimmer, Realtor
Century 21 Award Mission Valley
California DRE License #01458572
619-729-5701
jimfrimmer@century21award.com
Mission Valley Condos Information

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Try RusselRayPhotos.com for inexpensive, royalty-free photos.

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