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Housing market slightly up in February

Housing market slightly up in February

San Diego County’s housing market picked up a little steam in February, but not enough to reverse a trend of declining sales and lower appreciation. The median price for a home sold in February was $410,000, up from $405,000 in January and 14.2 percent from the $359,000 a year ago, real estate tracker DataQuick reported Wednesday. Annual appreciation has slowed since peaking at 24.1 percent in June, when the median was $416,000. Mark Goldman, a loan officer and real estate lecturer at San Diego State University said San Diego is returning to its historical appreciation of 3 percent. Read the...

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Heat returns to San Diego housing market

Heat returns to San Diego housing market

Case-Shiller index shows robust price gains in January Shaking off an autumn lull, San Diego County’s housing market returned to brisk price appreciation in January, posting its biggest gain for that month since 2004, according to the S&P/Case-Shiller index. The price index increased 0.6 percent in January from December, compared to a decline of 0.1 percent the previous month. On a seasonally adjusted basis, January’s increase of 1.8 percent was the highest monthly price gain in the 20 U.S. cities measured by S&P/Case-Shiller, which is considered highly accurate because it captures...

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Foreclosures continue to drop in county

Foreclosures continue to drop in county

Large gains in annual home price appreciation have continued to help keep the number of foreclosures in San Diego County at pre-Great Recession levels. In February, banks repossessed 141 properties in the county, a slight decline from January and down 44 percent from the 252 foreclosures in February 2013, real estate tracker DataQuick reported Tuesday. Last month’s number of foreclosures was also the lowest for a February since 2006, when 40 properties were taken back by banks during the housing bubble that led to the recession. It was also a major improvement from the 1,316 foreclosures in...

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Will housing inventory increase in Spring?

Will housing inventory increase in Spring?

Murtaza Baxamusa, directs planning and development for the Family Housing Corporation, of the San Diego Building Trades in Mission Valley: Yes. A simple explanation of the low inventory of existing home sales last year was the lack of choices for owner-occupants to move to, and lingering uncertainty in family income and employment. As new homes are built, they will supplement the older inventory with more water and energy efficient products. On the demand side, the potential for higher mortgage rates and declining share of speculative cash buyers, is going to temper the irrational bidding up...

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$1M home sales at 6-year high

$1M home sales at 6-year high

San Diego County homebuyers last year purchased the most $1 million-plus properties since 2007. In 2013, 3,519 properties worth $1 million or more sold in the county, a 48.7 percent jump from 2012, real estate tracker DataQuick reported Thursday. It was the highest number of seven-figure homes sold since 3,888 changed hands in 2007. In the summer, San Diego median home values saw 24 percent year-over-year appreciation. That and higher demand pushed many recovering home values back into the $1 million range, DataQuick reports. Read the entire...

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Home prices flattening in the county

Home prices flattening in the county

San Diego County home prices were nearly flat from October to November, but are still up 18.7 percent over the year, the S&P/Case-Shiller Home Price Index showed Tuesday. From October to November, home prices rose 0.04 percent on the index, continuing a steady monthly slowdown from the roughly 5 percent gains seen in the peak spring and summer buying season. From September to October, prices rose 0.3 percent, and from August to September, they were up 0.9 percent. The last time home values fell was in January 2013, when they dropped 1.03 percent from December 2012.  Read the entire...

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