San Diego Is The 7th Most Searched Real Estate Market!

In an effort to continue bringing good news the San Diego real estate market, I am very pleased to report that San Diego ranked as the 7th most searched real estate market by buyers and sellers online.  This is a great accomplishment and proves the strength of the San Diego housing market.  There is no denying that we are in one of the world's most desirable places to live and demand in San Diego continues to be strong compared to other parts of the country.

While many real estate markets in 2010 experienced extraordinary highs and lows in response to tax credits, low interest rates and price swings, consumer interest in some markets was consistently strong.  Las Vegas and Los Angeles came in as the initial and second most searched markets every month in 2010, while Orlando, San Antonio and Miami vied as the third, fourth and fifth most searched cities respectively. Phoenix, San Diego, Austin, Tampa and Chicago, in that order, held the sixth through tenth positions as the most searched markets in 2010.

In early 2010, house sales and prices rose throughout the country quicker than they had for several years. This was largely in response towards the Federal home buyer tax credit for first-time and repeat buyers. Right after the Federal home buyer tax credit expired in the finish of April 2010, sales slowed throughout the nation in summer and fall 2010 even though mortgage rates remained low.  List prices and actual sale prices continued to fluctuate in response to sales, foreclosure, along with other trends throughout 2010 in San Diego as in other markets.

Despite changing market conditions in 2010, the nations most searched destinations remained remarkably consistent, focusing on the sunshine states of California, Nevada, Florida, Texas and Arizona.   Aside from the sunshine, San Diego real estate prices enjoys the added benefit of having a number of natural geographical barriers that keep create a natural limit to our supply.  To the east we have the desert and mountains, to the north is Camp Pendleton, to the west is the Pacific Ocean, and to the south is the international border.

Online search is a vital measure of interest in real estate, particularly now that more than 90 % of buyers search for their homes online.  Changing conditions throughout 2010 within the sunshine states resulting from foreclosures, the tax credit, interest rates and other factors produced much more interest in real estate compared to other states that we hope leads to increased activity and sales in 2011.

Granted, much of that activity was due to the unbelievable deals that were, and continue to be, available, but desirable places like San Diego also hold the most potential for a quicker rebound.

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