The 1st quarter statistics for Coastal North County properties are ready. Please see the table below. Sales are strong in Oceanside where it is now possible to buy for less than it would cost to rent. If the law of supply and demand prevails the price of homes will fall in zip codes with a greater than 6 month inventory of homes. How far? No one knows but it is obvious that in Rancho Santa Fe sellers are hoping that buyers will begin to appear.

Home prices tend to be somewhat sticky. Some sellers will simply not sell and choose to rent or stay in their home until values increase. We have not seen huge numbers of distressed sellers in many of the higher priced zip codes in North San Diego County. But most experts feel that we are about to. In this analysis the absorption rate was figured by calculating the number of homes sold in the last quarter and projecting that rate for the current inventory.

Posted on Friday, May 1st, 2009 at 12:19 pm and is filed under MLS Listings. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.