Over the past couple of weeks, there are all kinds of numbers coming out of San Diego.
Downward trends showed that San Diego County homes decreased 8.7% in the month of January from what was seen in the month of December. The home prices and sales in Southern California from a month over month basis also dropped. The average 30-year fixed mortgage rate in the Unite States dropped to 5% with a previous 5.05% reported only a week before. Rates are still very low historically.
Upward trends in San Diego County showed that sales of million-dollar homes in the county in 2010 increased marking the first annual increase since 2005. The most-expensive sale was in Coronado, at $10.5 million. The homes in the million-dollar range increased in Southern California, which has not been seen in practically five years.
Looking to the next week
DataQuick will release their January foreclosure figures on Tuesday. The U-T announced that mortgage defaults and foreclosures for San Diego County decreased to the lowest level seen in the past three years. On the other hand, economists are expecting to see more foreclosures this year than last.
Freddie Mac will release their weekly average for mortgage rates on Thursday. The long-term rate dropped to 5% last week.
Bjarke Ingels, Danish architect will be giving an invite only lecture to NewSchool of Architecture and Design students at the Museum of Natural History in Balboa Park on Friday. According to FastCompany.com, Bjarke Ingels is among The 100 Most Creative People in Business 2010 and will discuss how “the evolution of political, economic, and social issues in today’s society is manifested in architecture designs,” stated Maria Velez, a spokeswoman for the design school.“ Bjarke’s architectural style is inspirational and mind-stretching,” said Steve Altman, president of the design school that is hosting the function. Ingels also will discuss “Yes Is More: An Archicomic on Architectural Evolution,” his new comicbook-style book that weaves humor into design.