San Diego: Home Prices Fall from September to October

The median price for a home in San Diego County fell from September to October, but the pace of annual appreciation still ticked up.

Last month, the county median price was $440,000, down from $445,000 in September, real-estate tracker CoreLogic DataQuick reported Wednesday. Despite the drop, the pace of annual appreciation increased from 5.5 percent in September to 6.6 percent in October because home prices fell by nearly $10,000 between those two months in 2013.

The pace of annual home price appreciation has been slowing since peaking at 24.1 percent in June 2013, led largely by investor activity such as foreclosure resales. It has been in the single digits since April, with activity in the market down each month compared to the same in the prior year. Last month’s 3,308 transactions were down 5.7 percent from October 2013.

Andrew LePage, a CoreLogic DataQuick analyst, said in a statement that consumer homebuyers haven’t flooded the market since investors exhausted the supply of foreclosure properties. That’s made for a markedly slow 2014.

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