[quote]the last 100 SFR sales in Carlsbad, Encinitas, Cardiff, Solana Beach, Del Mar, and Carmel Valley[/quote]

You must have a narrow definition of what “San Diego” is if these are the areas you are using. This is the nicest areas, and the most in demand, of the whole county, minus maybe La Jolla and Coronado. This area never was traditional fha territory, and didnt boom like the less expensive areas did. So it really isnt supprising that these areas are selling to higher monied buyers.

I am guessing that if the relators did the same analysis on Spring Valley, El cajon, National City, and Lemon Grove they would find higher rates than these numbers. And remember that RE is priced at the margin, so those few extra sales can make all the difference in where prices are going, ESPECIALLY in a crappy, no inventory market like we have now in San Diego.