Midyear Look: Where's Housing?
Thursday, July 18, 2013
U-T San Diego -- After a boom, bust and rebound, has the local housing market found balance midway through 2013?
Increased demand for homes and strained for-sale supply have fueled the San Diego County real estate recovery. However, skyrocketing home prices and higher mortgage rates threaten to keep the market from further movement by potentially pricing out buyers.
Those push-and-pull dynamics and declining distressed-housing stock have contributed to a market that’s “close to equilibrium,” said Norm Miller, a real estate professor at the University of San Diego’s Burnham-Moores Center for Real Estate.
“It’s looking much better, more stable,” Miller said. “The only uncertainty is the effect of interest rates” on homebuying, he added. (Full story)