San Diego Relocation
October 9th, 2008 Posted in Downtown San Diego Condos, San Diego Vacation Homes, San Diego Housing Market, San Diego Relocation | No Comments »Despite the global economic woes, a few segments of the local housing market remain strong. Opportunity seeking corporate transfers, second home buying baby-boomers, military transfers and geographic relocations continue to make modest but meaningful dents in the surplus of housing inventory.
Housing prices are down an estimated 35% off 2005 highs County wide in 2008. Entry level housing has seen deep softening already with the luxury market having slowed considerably toward the end of the year. Bank-owned inventory is still very high, most notably in areas like Chula Vista. Downtown San Diego condos that are bank-owned are not as common, but still provide an attractive destination for the second home buyers from Arizona, Texas and Nevada as well as international buyers from Canada and Europe.
Strong business sectors (excluding finance) continue to bring in new buyers to take advantage of falling prices in the North County.
Nationally, pending home sales have been on the rise.











