Arizona Real Estate Notebook

Don’t research homes without it! John Wake, Assoc. Broker, HomeSmart

Arizona Real Estate Notebook random header image

San Diego real estate weaker than expected

June 27th, 2007 · 1 Comment

First it was the new home builders last fall who said a turn around might occur in 2008 which was more than a year away.

Now it looks like 2008 is the earliest for San Diego home resales. I bet new home builders are wondering if 2008 will be down as well.

If it remains relatively slow, the air is let out slowly. We’ll probably see another 5, maybe 8 percent drop in the medium price of homes. If things come crashing down, meaning we actually go into recession, unemployment rates rise, there’s a lot of job losses in the San Diego area. We’re likely to see a 15 to 20 percent drop in home prices.

Tags: California Real Estate

1 response so far ↓

  • 1 Real Estate » Blog Archive » Real Estate June 28, 2007 1:49 am // Jun 29, 2007 at 1:48 pm

    […] San Diego real estate weaker than expected First it was the new home builders last fall who said a turn around might occur in 2008 which was more than a year away. Now it looks like 2008 is the earliest for San Diego home resales. I bet new home builders are wondering if 2008 … […]

Leave a Comment