Market notes

North County looks strong!
Single-Family Detached Home Prices
~ The median price for all homes in North San Diego County – single-family
detached and single-family attached – decreased to $370,000 in November 2009
from $375,000 in October 2009.1
~ The median-priced single-family detached (SFD) home in North San Diego
County rose 1.45 percent from $430,000 in October 2009 to $436,250 in
November 2009. The SFD median price in Non-North County zip codes declined
1.4 percent from $355,000 in October 2009 to $349,900 in November 2009.

No New Housing!
For several months, the California and local housing markets have been experiencing a
sales rebound as a result of low interest rates, a continuing supply of distressed
properties coming to market, and a continuing reduction in the fear factor on the part of
prospective homebuyers.
a. Sales of new homes are down significantly because home-building activity has
all but stopped completely.
b. Meanwhile, 2010 will see a steady stream of sales of resale homes, driven by
distressed properties at the low end of the market, coupled with moderate homeprice
appreciation.
i. The statewide median-home price is expected to rise 3.3 percent in 2010
over this year.

Interest rates are good now but for how long?
Expect interest rates to climb next year from about 5.2 percent to 5.7 percent on average.

Prepared for the North San Diego County Association of REALTORS® by Robert Brown, Ph.D. (Bold headlines by North County)