Forbes.com, the finance publication, ranked San Diego #5 out of 315 housing markets and that prices are in place to see increases in 2011 and in the coming years.
They believe the median home price in San Diego will increase 2% over the next 12 months and on throughout the next three years which is based on findings from Local Market Monitor. Local Market Monitor is a research company that analyzed data from real estate markets throughout the United States, which also factored in the areas’ unemployment and job growth rates.
Along with San Diego two other cities were on the list of United States cities where home values are more than likely going to increase over the next three years which are Santa Ana and San Jose. Median home prices in both of these cities are believed to increase three percent over the next year and then an average of 2% each year throughout the next three years.
Forbes predicted that California is heading toward somewhat of a housing recovery; it went on to say that, Florida “shouldn’t hold its breath”. Cities in Florida were on the list for cities with the home values including Orlando, Lakeland, and Daytona Beach.
Ingo Winzer, president of the Local Market Monitor stated, “The big difference between Florida and Southern California … is people are moving into Southern California, but they’re not moving to Florida.”