The Mission Beach housing market

The Mission Beach housing market, along with the rest of the San Diego County real estate market, continued to make strong strides towards recovery in the most recent tracking periods. According to a June 14, 2010 article in the San Diego Union-Tribune, “San Diego County home prices rose to a median $340,000 in May, the highest since August 2008, as the proportion of foreclosure sales dropped below the 30 percent level for the first time in 2 ½ years, MDA DataQuick reported Monday.” The piece, composed by Roger Showley, continued to note that “The year-over-year price change was 15.3%, the fourth straight month of such an increase, suggesting that the market is broadening to include more higher-priced sales rather than being concentrated at the low end as it has been for three years. The increase from April’s $325,250 was 4.5 percent, the second highest month-to-month change in nearly a year.”

This increase in the median price of a Mission Beach real estate was the continuation of an eleven-month streak, according to a May 25, 2010 article from the Voice of San Diego. This piece noted that “There’s no doubt housing prices have come roaring back this year. New numbers released this morning showed San Diego County home prices rose again in March – marking the 11^th straight month they’ve been headed up.” The article by Kelly Bennett went on to note that “Local prices rose 10.8 percent between March last year and this March – when buyers scrambled into the market to take advantage of an expiring federal tax credit. That was the second largest increase in any of the 20 cities measured in the Standard & Poor’s Case-Shiller home price index, a closely watched indicator for the housing market.”

The overall economy of the San Diego region, including the Mission Beach housing market, showed considerable growth for more than a year straight. According to a May 27, 2010 article by Dean Calbreath in the San Diego Union-Tribune, “A strengthening job marked pushed San Diego County’s leading economic indicators higher for the 13^th month in a row, indicating that the county will continue to grow moderately through the end of the year…”