Tag Archives: san diego home sales

San Diego home sales drop to lowest point since 2007

San Diego County home sales dropped 17.5 percent to the lowest level in 11 years for a September in the first significant sign of a slowdown in the market, real estate tracker CoreLogic reported Tuesday.

Last month, 2,942 homes sold in the county, down from 3,568 sales a year ago. It was the lowest number of sales for a September since just before the Great Recession when 2,152 sold in September 2007. Also, last month’s median home price dropped to $575,000 — the first decrease since January — after hitting an all-time high of $583,000 in August.

Most experts attributed the slowdown to a rise in mortgage interest rates, and the sale price reduction to potential buyers balking at higher monthly payments.

“Mortgage rates (are) another thing that is going to add cost, and temper demand,” said Cheryl Young, senior economist at Trulia. “Rates are hovering around a seven-year high so people are really, possibly, taking a step back before they jump into home buying.”

read more at: https://www.sandiegouniontribune.com/business/real-estate/sd-fi-home-prices-20181030-story.html

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San Diego: Median home prices drop from July to August

San Diego County home prices fell back to a median of $470,000 in July, a $6,000 drop from June, CoreLogic reported Tuesday.

But the latest figure was still 5.6 percent higher than a year ago, continuing an unbroken, post-recession trend that began in April 2012.

Sales also dipped a bit in July, from 4,467 transactions in June to 4,322 in July, but remained 22.4 percent above July 2014 levels.

Some details, sector-by-sector:

Single-family home resales: Median, $520,000 down from $530,000 in June but up 6.1 percent from July 2014’s $490,000. There were 2,797 sales, compared with 2,866 in June and 2,402 in July 2014.

Condo resales: Median, $361,500, up from $360,000 in June and $337,000 in July 2014. There were 1,355 sales, compared with 1,355 in June and 1,052 in July 2014.

New houses and condos: Median, $610,000, up 11.9 percent from June’s $545,000, but down 1.4 percent from July 2014’s $651,500.

read article:http://www.sandiegouniontribune.com/news/2015/aug/18/home-prices-corelogic-july/

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