Zillow’s Negative Equity Report for the first quarter was released today, and it adds to why we aren’t seeing many short sales or REOs around NSDCC.

The upper tier homes have the most equity, and in San Diego only 5.2% of the higher-end homes are underwater:

SD neg equity

With very little pressure on sellers, we will probably just settle into a real estate malaise for the rest of the year – with occasional bursts of activity caused by well-priced homes or price reductions.


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