The chart below provides us a moving trend of home sales and prices from 2007 to 2011, in San Diego County. We can see is that both median and average home prices (red bars and blue shaded fill) have remain fairly stable (with some changes), compared to the precipitous fall of home values seen from mid 2007 to mid 2009. In addition, the number of sales in our county (the grey line) remains stable too, taking into consideration the seasonal spikes and drops of sales volume. Great news for us all looking for signs of real estate recovery in our fair city.
The second chart showing historic mortgage interest rates from 2006 to present, and it reveals how low the rates are today. Buyers and investors are coming out to take advantage of both the stability in home pricing and the low interest rates. After 5 long years of economic volatility, we are expecting 2012 to be a great year for home buyers!