Housing Market Slightly Up in February

San Diego County’s housing market picked up a little steam in February, but not enough to reverse a trend of declining sales and lower appreciation.

The median price for a home sold in February was $410,000, up from $405,000 in January and 14.2 percent from the $359,000 a year ago, real estate tracker DataQuick reported Wednesday. Annual appreciation has slowed since peaking at 24.1 percent in June, when the median was $416,000

Mark Goldman, a loan officer and real estate lecturer at San Diego State University said San Diego is returning to its historical appreciation of 3 percent.“Interest rates are eking up, wages are stagnant, and the cost to run a household keeps going up,” Goldman said. “I kind of see this malaise continuing for quite some time.”

Rates for a 30-year-fixed mortgage rose to 4.37 percent in February, up from 3.56 percent in February 2013, Freddie Mac reports. Goldman said inventory has increased somewhat, reducing upward pressure on prices, and the fix-and-flip strategy is no longer such a great investment.

read more at: http://www.utsandiego.com/news/2014/mar/12/dataquick-real-estate-mortgages-property-values/

Disclaimer: for information and entertainment purposes only

One response to “Housing Market Slightly Up in February

  1. Because of its aesthetic appeal, the steel roof system have been used in 50% commercial steel
    buildings. Ecologically SoundBecause most steel buildings today are
    used in a steel building 30 x 30 wide range of personal access doors.
    Most people have seen one of these buildings, which will help prevent moisture build up when well ventilated.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s