Tuesday, June 26, 2012
A San Diego researcher says home price gains in the latest Case Schiller Housing report may indicate the local housing market is starting an upswing.
SAN DIEGO National home prices rose more than a percent in April and San Diego home prices mirrored the national trend in the latest Case Shiller Home Price Index. Prices rose about 1.4 percent in April. The national increase snapped a seven month string of declines.
The numbers may be an early indication that the housing market is starting to get healthier.
"We're seeing low inventories," said Mark Goldman, a San Diego State University real estate lecturer. "We're seeing very high participation rates of people coming into the market. We see very low interest rates at this time. And I believe we're seeing somewhat of a recognition of an emotional stability of our employment market."
The Case Schiller numbers are from April, and Goldman said there's been even more movement in a positive direction since then. Even so, the index found prices in April this year were still below April's prices from last year.