Due to the fact that more houses with higher prices have come on the market, housing in San Diego became a bit less
affordable during the first three months of 2010.
The Real Estate Market in southern California was fairly level during April with sales edging from the bargains in inland locales to entry level and midrange homes in semi-coastal areas. The median price of a home did not change from March, but it was higher when compared to April a year ago.
It may well be that a fairly large number of sales that should have closed escrow during April were put off until May so that purchasers could make use of the newly available tax credits, which went into effect on May 1st. Also, buyers who hurried to open escrow last month prior to the cutoff date of April 30 for obtaining the Federal Tax Credit are apt to close their escrows this month or next.
As the market slowly begins to show signs of a possible recovery, it is difficult to determine which of the present sales traits are a part of a new actuality and which reflect today's turmoil. Things should begin to look up when the employment situation improves.
