Sales Up and Prices Down in San Diego

As the nation's economy heads toward a possibly deep recession, San Diego County's housing market is not all doom and gloom, according to an article from the San Diego Union Tribune.

While prices continue dropping as low-cost foreclosures dominate the market, bargain hunters snapped up more properties last month than at any time in nearly a year. Lower prices have also resulted in the best affordability rates in nine years.

MDA DataQuick reported yesterday that there were 3,598 sales last month, the best October in three years, as prices dipped to a median $323,500, a number not seen in six years. Foreclosures made up nearly half of all resales, their highest proportion so far.

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