San Diego – August’s Median Home Price Drops

The San Diego County median home price decreased for the second month in a row in August to $535,000, real estate tracker CoreLogic reported Tuesday.

Despite the break in rising prices, most experts caution that tight supply — fewer homes are for sale in 2017 compared to last year — should continue to keep prices high.

The half-a-million-dollar price tag for a home is still far off what houses were going for during the housing boom before the crash. The November 2005 peak of $517,500 equates to more than $644,000 in today’s dollars when adjusted for inflation.

A slowdown in August, a 0.5 percent decrease in price, is common after stronger sales in February through May, said Dana Kuhn, real estate lecturer at San Diego State University, and it is unlikely the median price would reach June’s peak again before the end of the year.

 

Read more at: http://www.sandiegouniontribune.com/business/real-estate/sd-fi-median-home-price-20170919-story.html

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