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 March 19, 2010

SAN DIEGO HOME PRICES REMAINED FLAT IN JANUARY
San Diego home prices remained flat at zero percent during this past January, staying the same as they were in December of 2009. However, values were up by 0.2 percent over those of January, 2009.
The number of foreclosures nationwide during January was the same as for December, 2009, which was the highest since Zillow began collecting data in 1996. Over one in one thousand homes across the nation finalized the disclosure process. Sales of foreclosed properties were up to over 22 percent of all sales due mostly to the drop in the number of sales of non-foreclosure properties during the winter as opposed to the ongoing high number of sales of foreclosed homes.

During the winter, the buyers who are taking advantage of the tax credits, while providing some more demand in the real estate market, do not seem to be having as strong an influence on sales as they did from August through October of 2009. It is possible that those buyers who were eligible for the tax credits had already decided to buy prior to the extension. There may well be an uptick in home buying just before that extension runs out at the end of April.