La Mesa Home Prices Trending Up

LA MESA -- Home prices in La Mesa are beginning to show signs of trending in a good direction.

For the third month in a row, prices in La Mesa and the number of transactions have beat year-over-year totals, including a 10 percent rise in median sales prices during March for the 91941 zip code. To hear a report on La Mesa home prices and see statistics for your neighborhood click here.

The good signs in La Mesa seem to be mirroring some other hopeful signs on the national scene as well.

The Urban Land Institute released its Real Estate Consensus Forecast last week and overall, the 38 real estate economists and analysts surveyed projected broad improvements for the economy.

With signs of improvement in the housing sector already emerging, participants expect to see housing starts nearly double by 2014 and project home prices will begin to rise in 2013.

The average home price, which has declined somewhere between 1.8 percent and 4.1 percent over each of the past three years, according to FHFA data, is expected to stabilize in 2012, followed by a 2 percent increase in 2013, and a 3.5 percent increase in 2014.

Single-family housing starts are expected to rise from 428,600 starts in 2011 to 500,000 in 2012, and jump to 800,000 in 2014.

The unemployment rate is expected to continue falling, with the rate dropping to 8 percent by the end of 2012, 7.5 percent by the end of 2013, and 6.9 percent by the end of 2014.

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Tags: Gina Garcia, La Mesa, La Mesa Real Estate, La Mesa Today, La Mesa homes, La Mesa news, Real Estate

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Comment by Gina Garcia on April 11, 2012 at 12:21pm

Mr. Glenn, there is a fair amount of pain still out there, particularly in some pockets where new purchases occurred in 2006-2009. I do a lot of short sales still so I don’t mean to soft-pedal the challenges, but these days signs of an upturn is news and that’s what I was passing along.  In the 91941 zip code just over 30% were distressed sales. Glad to talk real estate with you at any time.

Comment by Christopher Glenn on April 10, 2012 at 1:49pm

Well this sounds great, but seems to defy the reality of bank forced sales around my neighborhood.  What if anything do the experts say about this neverending stock of underwater and foreclosed homes?

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