Is the spring homebuying season heating up?
Last month, San Diego County saw its highest home-sale count for a March month since 2006 as it entered another spring home-buying season, Tuesday’s numbers from DataQuick show.
A total of 3,237 homes were sold in March, up 19.5 percent from February and up nearly 6 percent from a year ago. Big percentage bumps are natural from February to March throughout Southern California, historical records show, but it appears this is the best March San Diego County has seen in six years, when a total of 4,367 homes were sold.
Improvement aside, sales are still far below from pre-recession levels. The current housing cycle’s peak was 6,926 transactions in June 2004.
“The year is young and lots could still change,” said DataQuick John Walsh in the company’s latest Southern California report. “But the results from the first big sales month of 2012 suggest the market is stuck in low gear. This remains a very gradual – not to mention fragile – recovery.”
Sales saw the most oomph in the markets of single-family resales and new properties, in which tallies increased almost 10 percent and 27 percent, respectively, from a year ago. However, both submarkets saw their values in March fall from a year ago. Prices for single-family resales dropped 4.2 percent to $350,000, and almost 26 percent to $392,000 in the new-home market…
Read the rest of this article by U~T San Diego’s Lily Leung here: “Is the spring homebuying season heating up?“