Wellsford Realty Announces Number of Homes in the Greater San Diego Area Moving Toward Foreclosure Declines in the First Half of 2012
According to recent reports, the residential housing market has begun rebounding, as the number of homes moving into foreclosure in the greater San Diego area has declined from the first half of 2012 in comparison to the previous six months.
Online, August 20, 2012 (Newswire.com) - The housing market in San Diego has began to rebound as the number of homes moving into foreclosure has decreased by more than 10 percent in the first half of 2012 compared to the last half of 2011, according to the San Diego Source, Daily Transcript (1).
Additionally, according to the San Diego-based real estate analysis company, DataQuick.com, 4,099 homeowners in San Diego County received default notices in the second quarter of 2012, while 4,158 homeowners received default notices in the second quarter of 2011 - an overall decrease of 1.4 percent (2).
According to the July 31, 2012 Case-Shiller Home Price Index (the leading measure of U.S. home prices), overall home values in San Diego have enjoyed four consecutive months of increases, while still remaining lower than prices approximately one year ago (3).
"Affordable housing prices and mortgage rates, which are at a 60-year low, present buyers, investors, and sellers with a variety of opportunities to enter the housing market," said Brian Yui, CEO of Wellsford Realty in San Diego. In fact, with home prices increasing throughout the area at a gradual pace and the overall decrease in foreclosures in San Diego, the housing market may be on the road to recovery.
About Wellsford Realty
Based in San Diego, Wellsford Realty is a full-service real estate company helping homebuyers find the perfect home and sellers get the perfect price for their home. The complete list of homes for sale in San Diego is posted on our website. We make the San Diego home buying and selling process more convenient and less stressful. To see our inventory or more information, please visit http://www.wellsfordrealty.com or call 1-877-718-0840 to speak to an agent today.
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References:
1. http://www.sddt.com/RealEstate/article.cfm?SourceCode=20120725czf&_t=Foreclosures+in+SD+drop+in+first+half+of+12
2. http://www.sandiego6.com/news/local/Foreclosure-Numbers-are-Declining-163434356.html#
3. http://www.utsandiego.com/news/2012/jun/26/sp-home-prices-climb-sd-18-other-cities/