I am shopping for a new car and I have spent some time talking with car salesmen lately. Several of them told me that car sales at San Diego dealerships have been rising with May reaching numbers not seen in years. I am also meeting more people interested in purchasing a home and the number of serious buyers is growing daily. I am not an economist but these seem like good trends to me.
The San Diego Business Journal had an article last week that quoted from a University of San Diego economic index. The index showed growth numbers in San Diego up 0.9% in both February and March. There was also a surge in consumer confidence of 1.99% in February and 2.19% in March. Growth is expected to continue through 2012 with larger increases toward the end of the year.
Real estate will continue to be a challenge with distressed properties coming to market, but the County Tax Assessors Office is reporting that Notices of Default and Foreclosure numbers are continuing to fall. At this point I just pray for stabilization in the market so we can move toward a more normalized future soon.