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San Diego home price stays at $570k

San Diego County’s record-breaking home price was unchanged in May at $570,000, increasing 7.6 percent in a year, real estate tracker CoreLogic reported Thursday.

May’s median ends a streak of new records each month for the county home price, with $570,000 still being the highest of all time.

The majority of May’s increase was led by resale single-family homes as the resale condo price dipped.

There were 4,004 homes that sold in May, down from 4,155 at the same time last year. It follows a trend throughout Southern California of declining sales as prices reach new records.

CoreLogic analyst Andrew LePage wrote in the report that a limited number of homes for sale and declining affordability for the average buyer is leading to a reduction in sales.

Here’s how the different home types fared:

  • Resale single-family home: Hit an all-time record of $619,500, increasing 5 percent in a year. There were 2,470 sales, down 6.7 percent from the same time last year.
  • Resale condo: Down a half a percent from last month for a median of $428,000 with 1,191 sales, down 6.3 percent from same time last year. The resale condo price has increased 9.5 percent in a year.
  • Newly built homes: New homes and condos hit a median of $696,500 with 343 sales. The price fluctuates more than other home categories because of low supply, a far cry from before the housing crash in 2006 when up to 1,200 new homes sold in a month.

Declining sales comes as there has been an increase in home inventory the past few months. There were 6,090 homes listed for sale in May, up from 5,060 in May 2017 and 5,913 in May 2016, said the Greater San Diego Association of Realtors.

read more at: http://www.sandiegouniontribune.com/business/real-estate/sd-fi-home-prices-20180621-story.htmlww.sandiegouniontribune.com/business/real-estate/sd-fi-home-prices-20180621-story.html

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Best IKEA products according to interior designers

From your first apartment to your dream home, there’s one decor brand that makes its way into every interior along the way: IKEA. The Swedish giant has perfected the art of fashion and function with its minimalistic collection that walks a fine line between classic and on trend.

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IKEA Ranarp work lamp

“Brass is everywhere these days, but I love it most when it’s mixed with other metals. As lighting is often considered the ‘jewellery in a room’, this piece strikes the perfect balance: It has pizzazz but isn’t too blingy, and the finish is contemporary but still elegant. This lamp would be perfect in a home office that doubles as a guest bedroom. It does double-duty as the perfect task light but is still chic enough to impress visitors.” — Lindsay Pennington, founder of Lindsay Pennington.

read more at: https://www.domain.com.au/living/these-are-the-best-ikea-products-according-to-interior-designers-20180501-h0zh4r/?utm_campaign=strap-masthead&utm_source=smh&utm_medium=link&ref=pos1

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San Diego home prices up 7.6% in a year

San Diego had the seventh-highest home price increase in the nation in February, said a key real estate index released Tuesday.

The region’s home price increased by 7.6 percent in a year, said the S&P CoreLogic Case-Shiller Indices. Seattle had the biggest increase in a year at 12.7 percent.

Other California cities covered by the 20-city index outpaced San Diego. San Francisco was up 10.1 percent in a year and Los Angeles up 8.3 percent.

All cities covered in the index experienced gains, which experts attribute to a strong economy and limited home supply.

“With expectations for continued economic growth and further employment gains,” wrote David Blitzer, managing chairman of the Index Committee at S&P Dow Jones Indices, “the current run of rising prices is likely to continue.”

Blitzer said year-over-year national increases for the last 70 months compares to a previous run from January 1992 to February 2007. That time period represented 182 months of national increases, when prices averaged a 6.1 percent gain annually.

The indices evaluate home prices by more than just price, tracking repeat sales of identical single-family houses as they turn over through the years. Prices are adjusted for seasonal swings. The San Diego median home price in February for a resale single-family home was $580,000, said CoreLogic.

read more at: http://www.sandiegouniontribune.com/business/real-estate/sd-fi-case-shiller-20180424-story.html

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