With the downturn in the real estate market, home builders have largely stopped building.  However, as the market continues to gain momentum we are starting to see more construction activity.

So, where are the best places for builders to focus their attention?  An article in the Wall St. Journal talks about research done by Brad Hunter, Chief Economist at Metrostudy.  One of the best places for new home construction?  San Diego!  There has been a huge increase in housing starts in the county and the absorption rate is quite high.

Way to go, San Diego!

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Prudential California Realty, North San Diego County and Carlsbad Real Estate

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Bryan & Allison Devore

Prudential California Realty

(760) 908-3838

info@TheDevores.com

According to an article in the Wall St. Journal, available housing inventory ended the year down 22% from the previous year.  It’s also the lowest level it has been in 4 years.

On the surface this seems to be a good thing for a more balanced market.  However, many would-be sellers are holding their homes off the market and waiting for a “better time” to sell.  In addition, banks are very slow to put inventory on the market.  How much backlog of homes is there?  That’s hard to say, but likely there won’t be a glut of homes anytime soon – sellers don’t want to rush to market and risk taking a drastically lower price for their home.

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Prudential California Realty, North San Diego County and Carlsbad Real Estate

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Bryan & Allison Devore

Prudential California Realty

(760) 908-3838

info@TheDevores.com

According to an article in the San Diego Daily Transcript, they are having quite an effect.  Home sizes, community amenities, home features – all of these and more are driving the direction that builders are going with their new housing projects.  How will the next generation behind the boomers affect housing?

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Prudential California Realty, North San Diego County and Carlsbad Real Estate

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Bryan & Allison Devore

Prudential California Realty

(760) 908-3838

info@TheDevores.com

According to an article published by RealtyTrac, foreclosures are expected to rise this year as lenders speed up the process of taking back homes.  Last year lenders slowed the repossession process because of legal scrutiny, but this year that scrutiny is gone.  Keep in mind that this information is on a national scope and the foreclosure figures in your particular area will vary.

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Prudential California Realty, North San Diego County and Carlsbad Real Estate

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Bryan & Allison Devore

Prudential California Realty

(760) 908-3838

info@TheDevores.com

The North San Diego County Association of Realtors just released their monthly HomeDex report for North County.  This report shows overall sales statistics, including total sales and prices, for homes sold in December, 2011.  To summarize:

• The median price for all North County home sales - attached and detached - rose to $357,250 in December 2011 compared to $350,000 in November 2011.
• Detached homes in North County increased 3.48 percent to $413,938 in December 2011 from $400,000 in November countering last month's fall.
• The countywide median SFD price increased slightly by 1.41 percent to $354,950 in December 2011 from $350,000 in November 2011, countering eight months of price decreases.
• The number of North San Diego SFD listings (active and contingent) decreased 8.4 percent in December 2011 compared to November 2011.
• The number of sold North San Diego County SFD units jumped 19.82 percent in December 2011 compared to November 2011, and increased 11 percent year-over compared to December 2010.
• Median days-on-market for single-family detached homes sold in North County declined to 64 days in December 2011 compared to 65 days in November 2011.
• The HomeDex affordability percentage for all homes in North San Diego County - attached and detached - decreased to 41 percent in December 2011 compared to 44 percent in November 2011.

Note in bold – sales are up and inventory is down.  This means the North County market continues to balance out.  If you want to see the report for the full county, please click here.

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Prudential California Realty, North San Diego County and Carlsbad Real Estate

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Bryan & Allison Devore

Prudential California Realty

(760) 908-3838

info@TheDevores.com

The California Association of Realtors, or C.A.R., just reported its sales figures for December.  The news is mixed – housing prices are down slightly from a year ago but are up a bit from November.  In an article in the San Diego Daily Transcript, comments by several contributors point out that the market is indeed continuing to stabilize.  In some instances loans are difficult to obtain, but overall sales are taking place.

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Prudential California Realty, North San Diego County and Carlsbad Real Estate

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Bryan & Allison Devore

Prudential California Realty

(760) 908-3838

info@TheDevores.com

If you have a rental properties (or multiple properties), then you need to read this article from the San Diego Daily Transcript.  New rules were put into effect this year and it is important to keep up on the latest rules and regulations that affect you and your tenants.

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Prudential California Realty, North San Diego County and Carlsbad Real Estate

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Bryan & Allison Devore

Prudential California Realty

(760) 908-3838

info@TheDevores.com

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Prudential California Realty, North San Diego County and Carlsbad Real Estate

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Bryan & Allison Devore

Prudential California Realty

(760) 908-3838

info@TheDevores.com

It looks like the Fed is going to get itself even more involved in housing – and politics.  According to an article posted in the Wall Street Journal, the Fed released a housing white paper last week to Congress which detailed its thoughts on getting the housing recovery into turbo mode.  The Fed recognizes the importance of the housing market in the recovery of the overall economy and has expressed some strong opinions about what should be done. 

Please take a moment to read the article – and let us know what YOU think!

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Prudential California Realty, North San Diego County and Carlsbad Real Estate

·         Search for any home in Southern California

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Bryan & Allison Devore

Prudential California Realty

(760) 908-3838

info@TheDevores.com

Take a look at what RealtyTrac sees as foreclosure trends for 2012 in their annual report.  Some very interesting trends and thoughts on what will happen in the world of foreclosures.

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Prudential California Realty, North San Diego County and Carlsbad Real Estate

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Bryan & Allison Devore

Prudential California Realty

(760) 908-3838

info@TheDevores.com