According to San Diego's Union Tribune, residential real estate rose 15 percent from a year ago and 4 percent from the previous month. Those gains bring back home values to June 2008 levels. When we look at the 20 major metro areas in the index, prices are up 12 percent year-over-year, the highest return in seven years.
Those same areas have all shown annual increases for at least four straight months. In San Diego, April's return mark the 10th consecutive month of positive year-over-year returns. Taken together, the 20 cities int he index posted a nearly 3 percent price increase, marking the biggest positive return in the history of the composite index, which goes back 13 years.
Such news continue to be a positive sign for homeowners who have been waiting for their home values to bounce back from recession levels. Limited inventory and pent-up demand have mainly contributed to soaring real estate prices, potentially pricing our potential buyers.
That said, this is a great opportunity fro all of you who have been thinking of selling your home, please call us today to get a free estimate of how much your home is worth, callÂ 619-665-5360Â or emailÂ Jason@MetroSDRealty.com