San Diego area Market Update for March 22, 2007

Median home price steady in February, while home sales inch up.
Inventory down about 24% from the peak of last summer.
Median price for condos gains 4.2%.
Foreclosures inch up to 923 on 3/13/07, about 6% of current inventory.

Good news: Inventory peaked on 8/14/06 at 21,302 and
has dropped to 19,093 on 11/4/06 and to just under 15,000 on 1/1/07.
There were 15,145 houses and condos available on 1/18/07.
We are up to 16,137 on 3/13/07, not a big increase.

More good news: Interest rates are still very low and there are many good loan programs available.

Each community is different. Some went up and some went down.

Go to my web site for the full report and the predictions for 2007, plus
a city-by-city breakdown with trend charts for each city.
http://www.sandiegohomes4u.com/RealEstateTrends.htm

I have seen more buyers that are out looking at homes
and so have most other agents. I think many of the buyers
feel they have been on the sidelines for long enough.
Buyers are seeing that the prices are not going to drop a lot,
and even rise, therefore it is time to buy.
I've heard about several multiple offers.

Check this out:
"Economists Question Media's Negative Drumbeat on Housing";
This one is so informative that I have a special link to it: http://tinyurl.com/t7nj2