San Diego Home Prices Increased 5% in The First Quarter

San Diego home prices were flat in the third and fourth quarters of last year and have now continued the upward trend in the first quarter of this year with an increase of 5%. Home prices are expected to continue to increase with a recovery in approximately two years to the previous peak reach in 2005/2006. As a result of the home price recovery, the distressed property sales composed of short sales and foreclosures have continued to decrease to less than 11% of total sales from a peak of over 50%. Hopefully, most all upside down homes will have disappeared in 2 years.

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