The Oceanside housing market, which is an upscale residential portion of the larger San Diego County real estate market, has been showing steady signs of improvement despite weaknesses in some commercial sectors. According to a September 28, 2010 report from the San Diego Business Journal, “While the nation’s housing values slowly rebound, prices in the San Diego region show a consistent growth trend, and increased for a 15th consecutive month in July. That ranked the region in second place among the country’s largest cities for the year, according to the latest Standard & Poor’s/Case-Shiller Home Price Index released Sept. 28. From June to July, San Diego’s median housing prices rose 0.7 percent, just a tenth of a percent below the composite average rise for the nation’s 10 largest cities, and a tenth of 1 percent above the composite average for the 20 biggest cities, the report stated. Yet looking at the past 12 months to July 2009, the Case-Shiller report shows San Diego’s housing prices increased by 9.3 percent, behind the increase for San Francisco’s housing prices, which rose 11.2 percent over the year, the report said.”
Oceanside homes for sale generally fared better than another portion of the San Diego County real estate market, the hotel sector. According to an October 11, 2010 article from the North County Times, “San Diego County led California in the number of hotels foreclosed in the third quarter with 13, followed by Riverside County with a dozen, according to a quarterly survey of distressed hotels in the state. In California, the 2010 survey for the three-month period ended Sept. 30 showed 529 hotels in default or foreclosure, a 10.7 percent increase from the quarter ended June 30, and a 71.2 percent increase over the third quarter ended a year ago. The survey was conducted by Irvine-based Atlas Hospitality, a brokerage that specializes in the sale of hotels. Los Angeles and San Bernardino counties followed San Diego and Riverside in the number of distressed hotels with 11 hotels each that were in default or foreclosure. Los Angeles County led the state in the number of defaulted hotels with 52, followed by San Diego County with 41 and San Bernardino with 37.”