Has the Real Estate Market Started to Rebound??

Spring is here and many Buyers who have seemingly been waiting for the best buying opportunity seen in years are out in force.

Although La Jolla has had very few if any Bank Owned Homes listed for sale, and Pacific Beach has been limited to a handful, I have recently noticed lots of Buyer activity on many homes throughout coastal San Diego being offered for sale as an REO.

Multiple offers, sometimes as many as 25 on one single home the first day listed, have been common. And one Pacific Beach home drew 12 offers in 2 days! With this many Buyers making offers I am led to believe the housing market in San Diego is making an upswing.

The N.A.R. this week reported an increase in sales nationally for the first time in seven months. This gain is encouraging because increases in sales were not expected until the second half of this year. According to a C.A.R. report, February sales volume in California was up 9.5 percent compared with January, marking that the fourth month in a row that figure inched higher!

So has the market start to rebound and will the market return to a more balanced one? We will see. But one thing for sure is there are some terrific buying opportunities out there right now and many Buyers are jumping off the fence.

If you are in the market for a home be sure to call me. I cover the Coast and look forward to working with you!

Happy Spring.

~John