San Diego County’s median home price in August was down annually for the first time in seven years, albeit a small reduction, real estate tracker CoreLogic said Wednesday.
The median price of $584,000 was down 0.1 percent from the same time last year at $584,500. The last time prices were down year-over-year was March 2012.
On the flip side, there were signs the housing market was picking up in August. There were 3,835 home sales, up 1.9 percent from the same time last year. That’s after annual sale declines for the majority of the year.
San Diego County is not alone in the slowdown, with sluggish price gains across the nation — especially in high cost markets — for most of the year. Analysts have cited affordability constraints, changes in the tax code and comparatively slower wage growth as reasons.
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