Carlsbad, CA–Home buyers often ask, “Where do you think the San Diego real estate market is headed in the next few years?” Our real estate license doesn’t come equipped with a crystal ball, but we have anecdotal indications that the market has bottomed and now DS News.com reports that the San Diego, Carlsbad and the San Marcos metro areas may comprise the strongest real estate market in the country.
The five strongest real estate markets projected for 2011, according to DSNews and subscription-based Veros Real Estate Solutions, are:
- San Diego / Carlsbad / San Marcos, CA +3.5%
- Kennewick / Richland / Pasco, WA +3.4%
- Pittsburgh, PA +2.7%
- Fargo, ND-MN +2.6%
- Washington / Arlington / Alexandria, DC-VA-MD-WV +2.5%
There are generally good projections for real estate markets in Texas, Louisiana, Arkansas, Oklahoma, North Dakota (oil), South Dakota and Iowa–with signs of strength spreading to areas of the Midwest.
Still in the tank, but less so than last year, are several real estate markets in Florida (including Orlando, Daytona Beach and Port St. Lucie), as well as Reno, Nevada and Boise, Idaho. In these areas, further price depreciation from -6.3 to -7.2 percent is projected. As bad as that may seem, it beats prior double digit decreases in home prices.
It appears our economy in on the mend and it’s great to see San Diego, Carlsbad and San Marcos lead the country in projected 2011 real estate appreciation. And our anecdotal observation confirm this projection: Our phones are ringing with inquiries about homes for sale in San Diego–and many are coming from out-of-area buyers who have decided to follow their dream of moving to one of our coastal communities.
Special thanks to Denver real estate expert Kristal Kraft, who forwarded this information to me earlier today.