San Diego homeowners have something to cheer about.
A new Forbes list predicts that America’s Finest City will be among the 10 cities where home values are expected to rise the most in 2011.
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San Diego is not the only California city rounding out the top 10 – markets in San Jose and Santa Ana, are also expected to see a boom.
Forbes enlisted the help of Local Market Monitor (LMM) to track 315 American real estate markets. “They then analyzed key economic factors that directly affect housing markets: unemployment and job growth rates, as reported by the Bureau of Labor Statistics.”
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Currently, the average home price in San Diego is $336,679 and a 2% increase is expected over the next 12 months. The list also predicts a 2% increase over the next three years.
With prices on the rise, Forbes encourages prospective homebuyers in San Diego to act fast.
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Published at 10:24 AM PST on Jan 31, 2011 | Updated at 10:52 AM PST on Jan 31, 2011