San Diego Home Sales Take Huge Drop
San Diego California home sales
According to the California Association of Realtors San Diego home sales were down 13.4 percent from July 2009, but, were actually up slightly from August 2008.
The median price of an existing single-family home in San Diego County last month was $375,710, up 0.8 percent from $372,640 the previous month, but down 3.3 percent from $388,710 in August of last year.
The statewide median price of an existing single-family home was $292,960 last month, up 2.6 percent from $285,480 in July, but down 16.9 percent from $352,730 in August of last year.
Properties in the $500,000-and-under range, which used to be unheard of in some areas, are now common. But, there are signs that the San Diego market has hit bottom and could be poised for a rebound.
The Standard & Poor’s/Case-Shiller Home Price Index reflected an increase in San Diego County home prices in June and July. Los Angeles real estate agents
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It’s simple. House prices have to come down to pre-bubble level. It’s hard to take for a lot of folks. But that’s reality.
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If I predict recession every year I will get it right eventually. My understanding of economics is that something either goes up or it goes down. There are 50-50 odds to guess right. Some may guess 60% right but will eventually revert back to the mean. It’s too bad this is a time when the system has been raped for every nickel and dime for the next few years.
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