Two telling sets of real estate data were just released:
Home prices up
San Diego saw a quarter-over-quarter increase in home prices to the tune of 2.4% and a year-over-year gain of 1.1%. This is according to Clear Capital’s Home Data Index Market Report. The nation as a whole also enjoyed price increases with the West leading the way. The report also indicated that we should enjoy a 2.6% increase in San Diego for the rest of 2012.
Sales up big over last year
According to figures released by the San Diego Association of Realtors, the number of sold listings leveled off in June but were up big from a year ago. There were 1,287 detached homes sold in June, down 0.5% from May but up a whopping 21.2% from June 2011.
There were 928 attached homes sold in June, down 0.5% from May and up 3.2% from June 2011.
The same SDAR report said that year-to-date median prices are up about 1.6% from 2011.
In summary, all of the empirical evidence we have been witnessing in the marketplace (multiple offers on well-priced homes, appraisals coming in stronger than before) is translating into real data. All of this is leading up to the elections in November and it will be interesting to see how the candidates spin the numbers to their advantage.
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Bryan Devore
Prudential California Realty
(760) 908-3838
North San Diego County and Carlsbad Real Estate
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