Purchasing A Home In San Diego

San Diego has a lot to offer anyone planning to purchase a home in the area. If you are looking to buy a home in San Diego, the market is on your side right now. The sales of San Diego real estate were lower by 8.8% in January 2011 than the January sales of last year. The price of homes has also declined in the past year over all price ranges except those homes that sell within the $400,000 to $500,000 range.

There are more homes presently up for sale in the market when compared to the previous years, and thus San Diego Real estate is on the rise. The price for San Diego real estate that makes up the most of the market is the homes that are priced under $300,000. The $300,000 and under San Diego real estate market makes up more than half of all the sales.

The San Diego real estate inventory has increased to 2% over the last month and the pending activity in the San Diego real estate market has increased by 14%. Currently, the San Diego real estate market is in the neutral range, normally the early part of the year will show an increase in inventory along with an increase in pending activity. Nevertheless there are several distress sells that are inflencing the San Diego real estate. Short sales currently makes up around 29% of the market and foreclosures makes up around 10%. In January 2011, short sales have made up 27% of the sales and foreclosures have made up 28% of the sales.

There has been a decrease of about 10% from May 2010 through January 2011 in the San Diego market because of the elimination of tax credit The inventory of homes in San Diego is expected to increase slightly throughout 2011, which means that the trend of lower home prices will continue throughout the year. This increase in the number of homes for sale will come from the number of distressed home sales.

Overall, if you are looking for a home in the San Diego area you should have a number of houses to choose from. The inventory of homes on the market is on the rise and the market has become stable. Most of the homes that are available are under $300,000. The current real estate market in San Diego is buyer friendly and anyone looking for a home right now should be able to get a good deal.

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