More lightweight coverage of the local real estate market – have you noticed how reporters don’t dig around much? The headline bait is embarrassing too – homes aren’t disappearing, they are just more expensive.
Stunning new numbers confirm what first-time home seekers already know: It’s getting dramatically more difficult to find an affordable first home in San Diego County.
A new study by Trulia says the supply of starter homes has plummeted 80 percent over the last four years — to fewer than 1,000 homes for sale.
Starter homes, according to the real estate tracker, are in the lower third of prices. In the county, that means a median $327,400 for a home. San Diego renters are feeling the pinch. Johny Thornton, a North Park resident, just got his rent raised by $75 a month.
“You pretty much just have to bite the bullet,” he said.
Thornton could try to buy a home, but it’s getting more complicated in the county, where demand far exceeds new home construction.
Trulia says most of the starter homes are in areas like downtown, El Cajon, Oceanside, Encanto and Spring Valley.
P.S. There is one house for sale in Oceanside under their $327,000 mark.