San Diego Home Values … Take Largest Drop on Record
According to DataQuick Information Systems of La Jolla California, the median price of a home in the county for November fell 10% vs. November 2006. This marks the largest one-year drop recorded by DataQuick since it began keeping local records in 1988.
It was also reported that home sales were off 26% for the same one year period. Home sales in Los Angeles, Orange, Riverside, San Bernardino, Ventura and San Diego counties have averaged 22,749 units for the last 20 years. But, last month, just 13,173 houses and condominiums were sold in the region.
Riverside had a 16.5% November price decline and San Bernardino showed a 13% drop.
Even in light of this news, one local media personality when reporting these facts, called this a 'market correction'. Please, give me a brake from the correct PC terms. With drops like this, the only correct description is a bust! [tags] San Diego home values, San Diego CA, San Diego real estate, California home values, real estate bust, real estate bubble [/tags] San Diego County real estate
Comments are closed.
How do you hedge in the market against falling house prices?
Laurie
San Diego California Lasik Surgery
There was so much speculation in the San Diego real estate market, what we’re seeing now seemed inevitable.
Kelsey
San Diego County Lasik
It seems that SD real estate follows about a 10 year boom to bust cycle; perhaps it takes 10 years for people to forget the last bust.
Dylan
San Diego California Plastic Surgery
Stagflation is the problem going forward, not recession. If our gdp is 70% consumer spending, there is no value added to the society. The big muckimucks of wallstreet should consider how to invest in areas that increases value and not just consumer spending!! That is what will take out of stagflation
Becca
San Diego Bail Bonds
Houses will only fall 30% if everyone rushes for the exits. 5 years ago many markets were underpriced and it’s highly unlikely they’ll go back to that level. There’s still a lot of demand for housing and THERE ALWAYS WILL BE! Anyone predicting a 40% decline is making a prediction because he earns money by making predictions!
Samantha
Adult Acne Treatment