Home prices increase

housing market trendHere’s good news for home sellers, but not-so good news for home buyers.

San Diego real estate prices and sales continue to move up as the region enters spring, when homebuying traditionally starts to heat up. That’s good news for sellers, who have been waiting for prices to strengthen.

The median price for any local home sold in February was $359,000, up almost 3 percent from January, real estate tracker DataQuick reported on Wednesday…

…February’s home-sale tally was 2,779, up 2 percent from January and up nearly 3 percent from a year ago. This was the strongest sales month for a February in San Diego County in six years, mirroring a milestone set by the Southern California market. The higher prices and stronger sales make it a little harder for home buyers though, despite record low mortgage rates. Many face stiffer competition as inventories remain tight…

Read more of U~T San Diego’s article here: “Home prices rise as season revs up”.

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