Nationally, San Diego County experienced the highest increase in the price of homes during this past March, despite
the fact that the price of homes in the country as a whole were down by nearly 4 %.
The price of homes in the County was up by 3.7 % to just under $365,000 as contrasted with March of the preceding year. Resale single family homes were higher by 4 ½ % from March of 2009 to just under $395,000, and resale condos were lower by 2.2 % to just under $260,000. The upper and mid levels of the market were higher, while the lower level was down.
After the lengthy and disabling drop in the price of homes, it appears as though the bottom has been reached and perhaps there is beginning to be some upward movement.
These figures confirm what a number of real estate agents as well as those who analyze the housing markets have been saying, that it is not likely that prices will get any lower and that the present would be a good time to purchase a home.
Over 32 % of homes that were sold this past March in San Diego County had been foreclosed upon last year and nearly 23 % of homes were worth less than their remaining mortgage balances.
The possibility of any significant appreciation is slight for perhaps 3 years or longer locally, as there are a great number of foreclosed homes on the market and in process.
