91 Metro Areas See Price Increase – Good or Bad?
It’s so difficult these days. I mean, I see this article online that goes into how 
much better everyone is doing, it says that real estate has gone up and the economy is starting to improve. Sounds fantastic, right? Only one article away from that is DOOM and GLOOM staring you in the face. It’s true, the very next article I read was about how we will never recover from the recession, it will permanently affect the young and everyone who is planning to retire in the next 10 years. So are things better, worse, or the same? Why does the news always have to be so confusing?
Let’s look at everything today with rose-colored glasses and leave the doom and gloom for another day, let’s chat about the 91 Metro areas with increased prices. Maybe that will mean more people keeping their homes, less short sales, and more stability for homeowners.
So here are the stats. In the first quarter of this year, 91 Metro areas saw a price increase, 29 of those had double digit increases, 58 declined, and 3 stayed the same. The median home price had obviously dropped since the top of the market, and been quite flat until now, with the stimulus money for first time home buyers and the foreclosure moratiums playing a huge factor. Lawrence Yun, chief economist for the National Association of Realtors estimates that 1 million additional homes were sold due to the tax credit.
What does this mean for San Diego real estate? Well, even the San Diego Union Tribune who usually gives the last and final kick when we’re down to the real estate industry wrote two separate articles recently, one was about San Diego leading Nation in home prices and another one regarding a 14% increase in price.
What does this mean for San Diego real estate? It depends on the economy. 290,000 new jobs were recently created, hopefully we will see more. With prices down from the boom, homes are still affordable, my hope is that we can go back to what we knew once upon a time. Remember when everyone had a job and jobs were easy to come by? When everyone had a few bucks in their pocket? When you didn’t have to worry about whether or not you had a roof over your head?
Do you look through rose colored glasses or prefer gloom and doom?
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[…] stark contrast to my rose-colored glasses story yesterday, here are the findings of an article printed the same day just dripping of gloom […]
If the prices has increase, then thats good news for the establish homeowner or for the investor who will flip the property. For the first time buyers, that is not welcome news.
I would like to think that things are getting better. I also wish for a steady recovery tied to a realistic and sustainable market system that doesn’t place all of us in financial peril. They say that you attract what you’re thinking of, so I say think positive and let’s move forward.
I prefer to make decisions on hard based facts. I’m not interested in what Joe Blow thinks about the economy. Markets rise and fall when the herd is swayed by euphoria in good times and quick to sell with sometime tragic losses in down times. Small investors never time market conditions right,instead relying on whichever trend is currently blowing.
Contrary to what Col. Nathan R. Jessep said in “A FEW GOOD MEN”, I CAN HANDLE THE FACTS. I like reading about what actually happened and looking forward to the future. Be it good or bad don’t put those glasses on unless their reading glasses!