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SDAR housing statistics reflect upward trend

SAN DIEGO- Based on the October 2009 Multiple Listing Service (Sandicor) report, the San Diego Association of Realtors (SDAR) reports that real estate sales volumes continue a strong upward trend.

Both single-family and attached home sales rose about seven percent over September, and are up close to 18 percent from 2008. Sales volume for single-family homes increased more than five percent from September, and nearly 13 percent for attached homes.

Although median sales prices dipped slightly, the median prices in October did not change significantly from September, and, in a promising sign, are still up more than four percent from this time last year.

“Much of this upward trend can be attributed to the availability of the Home Buyer Tax Credit,” said SDAR 2009 President Erik Weichelt. “Since its inception earlier this year, the tax credit has brought 1.2 million new buyers into the market nationwide. In California, nearly 40 percent of first-time home buyers reported they would not have purchased a home without the tax credit. We are delighted that congress and the President headed the call to extend and expand this important benefit that increases homeownership.”

 

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