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 January 22, 2008

San Diego Housing Market Predicted to Recover in 2008
Some experts are going against that grain and saying that our economic recovery will begin in 2008, especially in San Diego. Buildiing homes in San Diego will again remain somewhat steady at approximately "60% of a past five years' average". The sudden decline in residential construction was irrational behavior. At one time, the construction boom provided life to the economy, but with the sub-prime crisis, along with over building and inflation, we realized we bit off more than we could chew.
The national news & numbers can be a bit deceiving and San Diego is a good example. Forecasters are seeing a moderate recovery in San Diego, as well as, the state of California. The areas that will do the best in home sales are urban areas like San Diego, Orange County and San Francisco.

In areas where the inventory is lacking, there will be a 10 to 15% increase in home sales and prices are predicted to remain steady. With a large decline in home prices and lower interest rates, home sales are predicted to increase the most, during the third quarter.

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