Housing Rebound?

San Diego Business Journal -- Paul Barnes says there’s a palpable increase in home buying activity in recent months.

“Buyers’ confidence is re-entering the market,” says the president of Shea Homes San Diego. While he declined to provide actual sales numbers, Barnes said sales at Shea’s 10 communities in the county during April and May were up 15 to 50 percent, compared to those months last year.

Mark Riedy, executive director at the Burnham-Moores Center for Real Estate at the University of San Diego, said the local market appears to be improving but it likely won’t change significantly over the next year and half.

For those in the market to buy, there’s plenty of time to find a house, Riedy said. “There are some hot markets but those are few and far between,” he said.

“Demand isn’t going to be there in a hurry because incomes aren’t rising … and job growth is still anemic around here,” Riedy said. (Full Story)

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