If you’re talking San Diego County real estate, 2012 was the year of the home sale. It was also an atypical year.
Homebuyers snapped up more than 40,000 properties last year, the highest volume since 2006, when about 44,500 homes were sold, according to numbers from real estate tracker DataQuick.
Old trends were tossed out. Typically, sales rev up in the spring and summer, and hunker down in the later months. But last year, they flamed through the winter holidays as first-time buyers to seasoned investors kept scouting for homes from a limited supply.
Inventory, now at least at a three-year low; record-low mortgage rates; and the inability for many underwater homeowners to sell have pushed home prices up to a 41/2-year high…
Read more of U~T San Diego’s article on the real estate market in San Diego here: “Housing sales heat up”.