County median housing price on upswing
December report indicates stability
By Roger Showley, UNION-TRIBUNE STAFF WRITER
Tuesday, January 19, 2010 at 12:02 a.m.
San Diego County’s median housing price rose in December for the first time in four months, MDA DataQuick reported yesterday, adding further evidence that the housing market is stabilizing after four years of declines.
With sales rising, inventories lower, interest rates attractive and buyer interest growing, the latest report suggests that the market reached bottom last year and a recovery, if not under way, will come soon.
“Home values have stopped falling and there are signs that they’re edging up from the bottom,” said University of San Diego economist Alan Gin. “I think we’ll see some stability in the housing market. But it’s going to take a long time — we may not get to the inflated heights for a long time.”