Tag Archives: san diego home prices

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.

read more at: https://www.msn.com/en-us/finance/realestate/san-diego-home-price-down-annually-for-first-time-in-7-years/ar-AAHQoD8

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The increase was the third-worst performing in the 20-city index and behind the nationwide average gain of 3.4 percent. It represents a continuing reversal for America’s Finest City, which had been experiencing annual home price increases of 7.3 percent at the same time last year — and was one of the top-gaining metro areas in the nation.

On the plus side for homeowners, San Diego metro’s home prices are still increasing and it is no longer the worst-performing metro in the closely-watched index. Seattle home prices were down 1.2 percent annually and San Francisco had a 1 percent increase, the lowest in California.

San Diego metro’s fate fits into a national trend of slowing price appreciation, especially for the most expensive markets. Analysts point to years of rising prices outpacing wages as a reason why the home market has cooled, even in spite of lower mortgage interest rates and near-record low unemployment.

read more at: https://www.sandiegouniontribune.com/business/real-estate/story/2019-07-30/san-diego-home-price-gains-lag-behind-nation

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Annual home price gains in the San Diego metropolitan area were below 1 percent for the first time since 2012, said the S&P CoreLogic Case-Shiller Indices released Tuesday.

San Diego metro home prices were up 0.8 percent in a year — a major change from one year ago when the market had seen a 7.8 percent annual increase.

April’s numbers reflect slowing price appreciation across the nation, which experts generally attribute to affordability issues after years of home costs outpacing wages. Nationally, home prices were up 3.5 percent with low-cost markets showing the biggest gains.

San Diego had the lowest price gain of the 20-city index, but Seattle had no price gain. Other slowed markets were Los Angeles, up 1.5 percent in a year, and San Francisco, up 1.8 percent in a year.

read more at: https://www.msn.com/en-us/finance/realestate/san-diego-annual-home-price-gains-dip-below-1-percent/ar-AADpy0V

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