San Diego Home Sales Down 8.6%

Median home prices are basically flat from last year, said CoreLogic. Sales remain low on a year-over-year basis in San Diego County and throughout California.

San Diego County’s home sales were down for the 11th month in a row in March, but home prices were still up slightly.

The median home price was $555,000 in March, said real estate tracker CoreLogic, a gain of 0.9 percent in a year. That’s down from a peak of $584,750 reached in August. In March, there were 3,224 home sales, down 8.6 percent from the same time a year ago.

Much of the slowdown has been attributed to rising mortgage rates, which started to move up in the latter part of 2018. Even with interest rates lowering substantially the first four months of 2019 though, buyers still face high prices in San Diego County, said Mark Goldman, an analyst with C2 Financial Corp.

“We still have affordability issues,” he said. “Wages aren’t going up, so that is going to stifle pricing.”

read more at: https://www.sandiegouniontribune.com/business/real-estate/story/2019-04-29/san-diego-home-sales-down-8-6

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