San Diego Home Sales and Prices Decline
San Diego Home Prices decline
Today, a report released by the San Diego Association of Realtors, showed a total of 1,609 single-family homes were sold last month, this figure was down 15.6 percent from November 2012, and 11.3 percent below October.
For attached homes sold in November were 761, down 19.4 percent from the same month last year, and 9.6 percent below October’s sales amount. Read more 
San Diego Home Prices Jump 25 Percent
San Diego Home Prices
Today DataQuick a research firm reported that the San Diego California median price for new and existing houses and condominiums reached $368,000 in May, up almost 25 percent from the same period last year!
This marks 14th straight months of annual gains for Southern California median home prices.
Home sales were up in Orange and San Diego counties, but San Bernardino and Riverside counties posted home sale declines.
It seems to me that the combination of today’s low interest rates forcing many investor groups as well as individual investors into the Southern California real estate market in order to generate a decent return on their investments. Usually, these groups look for condos and homes at the lower end of the price range and buy them for all cash, when they believe they’ll be able to rent them out and generate a much higher return on their investment capital than if that cash was just sitting in CDs.
I see a red flag here, with the fact that double-digit home appreciation in our general lack luster economy seems to indicate a ‘feeding frenzy’ occurring just when interest rates seem to be firming up. Increasing interest rates are a double-edged sword here, because they offer investors other alternatives while at the same time, decreasing potential home buyers purchasing power.
San Diego California investment property
San Diego Home Prices
San Diego real estate double dip
The just released Case-Shiller home-price index showed that home prices fell in 18 of 20 cities in March. The only two cities to show slight increases were Washington, D.C., and Seattle.
The Case-Shiller home-price index is now below its April 2009 mark. What this is saying is that home prices have given back all gains they showed from May 2009 through June 2010. This confirms that the U.S. housing market is in a double-dip downturn. Read more
San Diego Housing Prices 2010
San Diego home costs
The price of housing still has to fall to be affordable to the average family man like it was 50 years ago. Today you need two workers with 2 jobs each and a 40 year mortgage to afford a house. A lot can happen in that 40 years and that is why the number of foreclosures will stay around 300,000 and may even go up. Compared to the number of housing units, approx. 128,203,000, 300,000 is much less than 1 percent. Read more
San Diego Real Estate Prices – A Mixed Bag
San Diego Real Estate Prices for June 2009 percent change vs. June 2008. Data from the San Diego Union Tribune — chart by Promotions Unlimited.
San Diego California home prices
San Diego Condo Sales Price Appreciation
San Diego California resale condominium appreciation
In the table below, www.brokerforyou.com looked at selected San Diego neighborhoods that
had 10 or more closed sales in September 2008 & September 2007.
compiled by DataQuick Information Systems & published in the San Diego Union-Tribune.
One should keep in mind the above chart is just for a one year period (September 2007 vs. September 2008) and
San Diego home values topped out around the Summer of 2005!
Lastly, I would note that these figures do not take into account the very prevalent seller concession
(usually payment of thousands in the buyer's closing costs) necessitated by an ultra strong buyers market place.
Related prior posts: