San Diego has some good news to report in the housing market. March 2010 has seen a rise in local home prices versus March of 2009. The rise is home values is the highest in the nation as reported by Zillow.
According to Zillow, home prices in San Diego rose 3.7% even while home prices in the nation continued to fall. Although no one can say that the market has bottomed out, seeing a rise in prices the last 10 months allows many who own real estate to relax just a little.
Kelly Cunningham, supervising economist at National University’s Institute for Policy Research in San Diego, said the reports show that the local market has stabilized.
“After a long and crippling downturn of housing values and prices, at long last, it does seem like we’ve hit that bottom and perhaps are starting to see some increases,” Cunningham said.
He said the statistics confirm what many real estate agents and market analysts have been saying for several months: Prices are unlikely to drop further and now might be a good time to consider buying.
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