More Good News For The San Diego Housing Market

San Diego's real estate market's forecast is looking as great as the weather!

Are you tired of hearing that the sky is falling when it comes to the San Diego real estate market? Well here’s some good news for our local San Diego housing market. According to an article I read in Forbes magazine it seems that California’s housing market is on a steady road to recovery. The article lists the top cities in which prices are predicted to rise slightly over the next 3 years. Though the estimated appreciation is low compared to the unrealistic ones we saw back in the height of the market they’re a sign that things will get back to normal.

According to the article San Diego’s real estate market came in at #5 out of 315 markets observed. 2 other California markets made the list San Jose at #1 and Santa Ana at #2.

On the flip side of the coin Florida has the top markets predicted to get worse over the next few years. One of the main reasons for the difference between California and Florida is that people are moving to So. California and not to Florida. The predictions for Florida’s market is for it to get back on the road to recovery some time in 2014.

As far as buyers are concerned in our San Diego real estate market this could be the final sign they need to move forward with that home purchase they’ve been contemplating for a while. The market is at it’s turning point and all of the signs are signaling the end of the buyers’ market and the beginning of a sellers’ market. With the interests rates now starting to creep up slightly as well this could decrease a buyer’s purchase power because as interest goes up their payment does as well thus a buyer has to look for a less expensive home.

Over the last year or so we’ve seen the San Diego real estate market show signs of recovery and we keep seeing better numbers weekly. Though other key factors affecting the real estate market recovery aren’t doing so well the market is making progress despite this so we can only assume that if and when unemployment and such get better the market will respond in an even better manner. I would encourage buyers looking to get into the San Diego housing market to start evaluating their specific situation and look at all of the factors directly affecting their buying decision. A healthy and realistic housing market benefits everyone so rest assured that the market isn’t going to stay in it’s current condition forever so make the best of it while you can.