Market is stabilizing – good times ahead

December 12, 2006

According to a survey of 49 economists - the worst of the home selling decline is over. Wall Street Journal conducted the economic forecasting survey - and twice as many economists are now optimistic and say the worst if over, as compared with those who take a negative view. Economists are expecting home prices, as measured by the government’s Office of Federal Housing Enterprise Oversight, to rise at 2.8 percent this year, and to fall by 0.5 percent next year.“We’re nearing the end of the slowdown for most markets,” said Ethan Harris at Lehman Brothers. San Diego has continued to be a sought-after area and has weathered the slow down in the housing market. The superb weather, growing job market and the desire by many to move here will keep things healthy in San Diego real estate.

Posted in All Things San Diego, Real Estate