According to an article in the Union Tribune today home sales in San Diego County have had a rise month over month. Most economist feel that we are starting to see a slow down of decline in the San Diego real estate market. The first step, meanwhile, is recovery in the lower end, anaylist say. LePage said that’s clearly occurring, as bargain-hunting has “exploded” in neighborhoods dominated by distressed properties. For example, Oceanside’s is four times its average sales, according to an analysis provided by dataquick based on the last nine years of sales by Zip code.
When sales outside of the foreclosed properties start rising, that’s the start of a recovery. this hasen’t happened yet, your getting a lot of low end sales. The investors are getting in is a sign that prices are reaching their bottom because investors want to pounce when they think prices are reaching their bottom. When you ask people why they are buying at this time they say they think it’s time, that the market is not going to get more depressed.
The buz word for the new up market is “Flat”. The market is starting to flaten out and that is why so many buyers are taking advantage of these great deals.
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