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Sun Shining on San Diego Real Estate Market

Sun Shining on San Diego Real Estate Market - San Diego - property market - United States

Home prices in San Diego are recovering from their lows--and it is now one of the healthier markets in the U.S. Could improved news for other real estate markets be far behind?

The San Diego real estate market is likely years away from the lofty home price levels of 2005-2006. But 15 months of steady increases and a 9.3 percent spike in year-over-year prices puts San Diego in second place for the Case-Shiller July Housing Index. That puts San Diego second only to San Francisco, which had an 11.2 percent increase for the same period.

Why is San Diego faring so much better than other parts of the country--especially with an unemployment rate of over 10 percent?

There are several possibilities, said Mike Murphy a Realtor and Certified Distressed Property Expert withSan Diego Previews Real Estate. He cites:

     1. Increased affordability for buyers coupled with low mortgage rates. FHA and VA loans are now common. 


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