Positive Reports…. New Homes Real Estate Construction in San Diego

We are beginning to see the positive reports of an upturn for new homes construction in San Diego county.  Several sources, including the San Diego Union Tribune, are indicating a small comeback in the construction industry as developers come out of the almost 3-year construction halt.  Last year produced about 3200 new homes and condos in San Diego County, amazingly low compared to our decade peak of 18,314 units in 2003.  Within the next 12 months, industry reports indicate that approximately 4000 units are planned for development and doors are expected to open for sales next month on several new developments across the county.  And if the demand looks promising and lenders follow suit, builders will be likely to pursue additional and larger development plans.  Buyers currently pursuing a San Diego Condo or home purchase continue to work through a somewhat difficult market that remains flooded with short sales and foreclosures.  If new homes are made affordable, this will be a welcome addition to the market as much of the headache of buying in this market will be eliminated by purchasing directly from a developer.

Tara Steinke

Agent / Appraiser

SDRealtor.Tara@gmail.com

619-384-6014