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High on housing

Potential buyers optimistic about improving values, but modest gains mean a slow climb back to previous highs

Potential home buyers are feeling a bit more optimistic these days, at least according to a California Association of Realtors survey released recently.

A quarter of potential home buyers responding to the 2012 survey were confident home values would improve next year. 41 percent said they believe prices will be higher five years from now, and nearly three-quarters of respondents say that values will be higher a decade from now. Positive responses rose across the board, but particularly on the one-year question, which drew an optimistic response from only 8 percent of respondents when it was first asked in late 2009.

Mortgage backer Freddie Mac agrees with the buyers, releasing its own report calling for a modest 2-3 percent rise in home values over the next year. That may be positive growth, but it shouldn’t cause any panic about prices returning to their pre-recession peaks in the foreseeable future. Average San Diego home values are still 37 percent off of highs reached in early 2007, despite sustained price increases.

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Potential home buyers are feeling a bit more optimistic these days, at least according to a California Association of Realtors survey released recently.

A quarter of potential home buyers responding to the 2012 survey were confident home values would improve next year. 41 percent said they believe prices will be higher five years from now, and nearly three-quarters of respondents say that values will be higher a decade from now. Positive responses rose across the board, but particularly on the one-year question, which drew an optimistic response from only 8 percent of respondents when it was first asked in late 2009.

Mortgage backer Freddie Mac agrees with the buyers, releasing its own report calling for a modest 2-3 percent rise in home values over the next year. That may be positive growth, but it shouldn’t cause any panic about prices returning to their pre-recession peaks in the foreseeable future. Average San Diego home values are still 37 percent off of highs reached in early 2007, despite sustained price increases.

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Still unaffordable

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4S Ranch Allied Gardens Alpine Baja Balboa Park Bankers Hill Barrio Logan Bay Ho Bay Park Black Mountain Ranch Blossom Valley Bonita Bonsall Borrego Springs Boulevard Campo Cardiff-by-the-Sea Carlsbad Carmel Mountain Carmel Valley Chollas View Chula Vista City College City Heights Clairemont College Area Coronado CSU San Marcos Cuyamaca College Del Cerro Del Mar Descanso Downtown San Diego Eastlake East Village El Cajon Emerald Hills Encanto Encinitas Escondido Fallbrook Fletcher Hills Golden Hill Grant Hill Grantville Grossmont College Guatay Harbor Island Hillcrest Imperial Beach Imperial Valley Jacumba Jamacha-Lomita Jamul Julian Kearny Mesa Kensington La Jolla Lakeside La Mesa Lemon Grove Leucadia Liberty Station Lincoln Acres Lincoln Park Linda Vista Little Italy Logan Heights Mesa College Midway District MiraCosta College Miramar Miramar College Mira Mesa Mission Beach Mission Hills Mission Valley Mountain View Mount Hope Mount Laguna National City Nestor Normal Heights North Park Oak Park Ocean Beach Oceanside Old Town Otay Mesa Pacific Beach Pala Palomar College Palomar Mountain Paradise Hills Pauma Valley Pine Valley Point Loma Point Loma Nazarene Potrero Poway Rainbow Ramona Rancho Bernardo Rancho Penasquitos Rancho San Diego Rancho Santa Fe Rolando San Carlos San Marcos San Onofre Santa Ysabel Santee San Ysidro Scripps Ranch SDSU Serra Mesa Shelltown Shelter Island Sherman Heights Skyline Solana Beach Sorrento Valley Southcrest South Park Southwestern College Spring Valley Stockton Talmadge Temecula Tierrasanta Tijuana UCSD University City University Heights USD Valencia Park Valley Center Vista Warner Springs
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